The visit to Berlin, led by President Edgars Rinkevics and Minister of Economics Viktors Valainis, accompanied by a delegation of 130 representatives from businesses, universities, and municipalities, has concluded. Significant agreements were reached during the visit to develop further interstate economic relations in digitalization, energy, and military. The visit took place from October 14 to 16.
"In Germany, only about 30% of public administration services are digitalized, with some federal states as low as 5%. In comparison, 91% of state and municipal services in Latvia are already available digitally, highlighting opportunities for Latvian technology companies in the German market. The visit also opened up significant possibilities for collaboration in green energy, where Germany plans to use gas pipelines in the Baltic Sea for hydrogen transportation in the future. This presents another opportunity for Latvia, as several hydrogen production projects are already being developed along the Kurzeme coast," emphasized Minister of Economics Viktors Valainis.
The key areas identified for future cooperation with Germany in exports and attracting investments include digitalization, energy, and construction, with an emphasis on the construction of wooden buildings, where Latvia can offer internationally competitive solutions, as well as the development of military production.
"Germany is the closest of the world's major economies to us, which is why cooperation develops more rapidly than with distant markets. We already see that the investment portfolio managed by the Investment and Development Agency of Latvia (LIAA) has reached 8 billion euros, and a large share of these projects is directly related to Germany. Over the past year, German investor interest has quadrupled. They find us attractive due to our digital solutions, expertise in wooden construction, and energy. Due to their strategic location, Latvia's ports can serve most of the wind parks in the Baltic Sea, both existing and planned," commented Raivis Bremsmits, Director General of LIAA, reflecting on the recent visit.
During the visit, agreements were reached in several meetings regarding reciprocal visits by German business delegations to Latvia. At the end of November, Germany's largest ICT industry association, Bitkom, has already planned to organize a visit to Latvia for representatives of federal states' technology and public sectors. Entrepreneurs interested in partnering with Latvian companies to develop new digital products are also expected to participate in the visit.
To strengthen cooperation between Latvia and Germany, President Edgars Rinkevics and Minister of Economics Viktors Valainis met with representatives from approximately 90 German defense industry companies involved in producing military optics, drones, and other defense-related products. Several German companies have expressed interest in collaborating with Latvian suppliers and establishing manufacturing facilities in Latvia. Consequently, the German Security and Defence Industry plans a major visit by a delegation of German companies to Latvia in the first half of next year.
Latvian companies and organizations participating in the trade mission included: TET; Mobilly; LMT; Nordic Homes; TIAMO Group; Adventum Tech; Tilde; TESLA; ZZ Dats; WeAreDots; Tietoevry; Zvaigznāja komanda; Apply; CMB; EdTech; Helmes; Brīvs; University of Latvia; UberHint; Lielvārds; Datorium; Riga Business School; German-Latvian Chamber of Commerce; Latvian Wood Construction Cluster; IT Cluster.
The largest-ever Latvian delegation’s visit to Germany was organized by the Investment and Development Agency of Latvia (LIAA) in cooperation with the Embassy of Latvia in Germany.
LIAA organizes the participation of high-ranking government officials in international visits within the framework of the Innovative Business Development Programme for Small and Medium-sized Enterprises (SMEs), co-financed by the European Union with support from the European Regional Development Fund and national funding.