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Latvia Discusses Business Support Opportunities at Ukraine Reconstruction Conference in Rome
On July 9–10, Minister of Economics Viktors Valainis participated in the Ukraine Reconstruction Conference held in Rome, Italy, which brought together leaders from various countries as well as business representatives. During the visit, the Minister met with business leaders to discuss support opportunities for Latvian companies seeking to operate in Ukraine.
“The annual Ukraine Reconstruction Conference offers an opportunity to strengthen security, the economy, and bilateral relations among countries in the region, while also creating new cooperation opportunities for Latvian businesses,” said Minister of Economics V. Valainis.
During the conference, Latvia joined the European Union (EU) initiative to promote trade with Ukraine by offering export guarantees. The Ministry of Economics is currently working on making the funds allocated for reconstruction in 2025–2026 available as loans to Latvian companies, which could then develop their business operations in Ukraine with support from the ALTUM program.
The Minister and Latvian business representatives met with the EU Commissioner for Economy, Productivity, Implementation, and Simplification, Valdis Dombrovskis. Entrepreneurs were particularly interested in the terms of the EU support mechanism “Ukraine Facility” and how it can be utilized.
During the visit, V. Valainis also visited the exhibition stand of the Chernihiv region, which Latvia is actively involved in rebuilding.
The Minister met with Italy’s Deputy Minister of Foreign Affairs and International Cooperation, Edmondo Cirielli, as well as with the leadership of the Italian engineering company “Italferr.” The company specializes in railway infrastructure and is involved in the European-gauge “Rail Baltica” project, providing technical supervision. V. Valainis emphasized the importance of treating “Rail Baltica” as an EU-level project, highlighting the need for Latvia and its partners—including Italy—to cooperate in securing financing for its further implementation.
The Minister also met with a representative of “Marcegaglia Baltics,” the Latvian subsidiary of Italy’s leading steel product manufacturer “Marcegaglia.” They discussed the company’s expansion plans in Latvia, competitiveness in the sector, and EU long-term economic development opportunities.
Additionally, V. Valainis held talks with the leadership of Italian military goods manufacturer “KNDS Ammo Italy.” Representatives of all three mentioned companies are expected to visit Riga in the autumn to discuss specific next steps for continued cooperation.
