Translated using ChatGPT service.
On June 19, Latvia’s Minister of Economics Viktors Valainis will undertake a working visit to Hamburg, Germany’s second-largest city, to promote economic cooperation between Latvia and the Northern Germany region. The purpose of the visit is to strengthen bilateral contacts, explore new cooperation opportunities, and lay the groundwork for broader involvement of Latvian businesses in the future.
“Hamburg is already one of the most strategically important partners in Germany, and Latvia sees great potential to develop this partnership further. With this visit, we aim to consolidate the contacts we have established and advance specific cooperation projects that will be important for both Latvian companies and our Hamburg partners. It will be an opportunity for Latvian businesses to mark their presence in the region and simultaneously prepare for even broader activity this autumn, when we are scheduled to participate in the Mecklenburg-Western Pomerania Business Forum,” emphasizes Minister of Economics Viktors Valainis.
During the visit, several meetings are planned with Hamburg’s Senator for Economics and Innovation, Dr. Melanie Leonhard, as well as with leading representatives of the region’s business and innovation sectors. A meeting between Latvian and Hamburg companies will also take place at the Port of Hamburg, serving as a platform to create new contacts and identify possible cooperation directions. At the same time, a cooperation memorandum will be signed between Latvijas Mobilais Telefons (LMT), the Freeport of Riga, and the Port of Hamburg, focusing on innovations in maritime and digital solutions.
Special attention will also be given to cooperation in the energy sector – a meeting is planned with representatives of Hamburg’s renewable energy cluster to discuss joint projects in wind energy development. The minister will also visit the HHLA Sky Innovation Center to learn about Hamburg’s experience in logistics and automation solutions.
The visit to the Port of Hamburg will become an important platform for exchanging experience between Latvian and German port representatives. Particular focus will be placed on best practices in port management – digitalization, sustainable logistics solutions, and governance models that promote efficiency and international competitiveness. Latvia is interested in adopting Hamburg’s experience in infrastructure development, while Latvia’s advances in port digitalization can serve as an inspiring example for German partners. This cooperation will strengthen the roles of both countries’ ports in the logistics network of the Baltic and North Sea regions.
At the conclusion of the visit, the Minister of Economics will speak at Hamburg’s influential political and business club “Übersee-Club,” addressing the region’s leading political and economic figures. The speech will highlight Latvia’s advantages as a reliable partner, the country’s innovation potential and investment environment, as well as Latvia’s role in the Baltic and Northern European context.
The delegation will include representatives from Latvian companies and institutions such as LMT, the Freeport of Riga Authority, LVR Flote, Techritory, Aerones, the Latvian ICT Cluster, and others. Latvia’s active participation in the Port of Hamburg event in May this year, as well as the visit of Hamburg Senator Dr. Melanie Leonhard to Riga in April, already demonstrated the mutual desire to develop closer economic cooperation. This visit will serve as an important continuation of the initiated dialogue and will advance specific cooperation projects between Latvia and the Northern German region.
Germany is one of Latvia’s most important economic partners – in 2024, it ranked second among Latvia’s foreign trade partners with a total turnover of goods and services exceeding 5 billion euros. Germany is also one of the largest foreign investors in Latvia – in 2024, its accumulated direct investments reached 1.54 billion euros, ranking fourth in terms of investment in Latvian companies’ equity capital. The largest German investor in Latvia by investment volume is CE Beteiligungs-GmbH, representing the Lidl retail chain. The investment potential remains high, especially in the fields of innovation, ICT, smart energy, and industrial cooperation.