From October 13 to 17, a Latvian business delegation of around 50 participants, led by Minister of Economics Viktors Valainis (Greens/Farmers), will visit Washington, D.C., the Latvian Investment and Development Agency (LIAA) informed LETA.
The delegation will travel to the United States to participate in one of the world’s largest defense industry exhibitions – the AUSA Annual Meeting & Exposition – as well as the Spotlight Latvia conference organized by the Latvian American Chamber of Commerce (LACC).
According to LIAA, the trade mission focuses on companies from the defense, energy, and ICT sectors, with the main goal of boosting Latvia’s dual-use and defense industry exports to North America and attracting EUR 1 billion in investment projects over the next three years.
“Our goal is to increase Latvian defense industry exports to the U.S. by at least 20% within three years. This mission is an important step toward attracting EUR 1 billion in new investments in the defense, energy, and high-tech sectors. Our ambition is to position Latvia as the Baltic hub for innovation and technology in the dual-use sector – a place where new production capacities and globally impactful research projects are developed,” Valainis emphasized.
The mission will begin with participation in the AUSA Annual Meeting & Exposition in Washington, D.C. – one of the world’s premier defense industry events, featuring more than 700 exhibitors from dozens of countries.
In addition to the exhibition, the program includes bilateral meetings with U.S. and Latvian policymakers and business leaders, as well as networking events with potential investors.
A key highlight of the visit will be the Spotlight Latvia business forum. Organized by the LACC, the conference serves as a strategic platform where discussions on Latvia-U.S. and Baltic-North American cooperation in security and innovation are turned into actionable partnerships.
“North America is a strategically important market for Latvian companies – both for export expansion and investment attraction. This is especially true in the defense, cybersecurity, and drone technology sectors, where Latvia already has strong competencies and competitive companies,” noted Ieva Jāgere, Director General of LIAA.
Latvia ranks among the world’s leaders in the number of drone companies per capita, and its firms are developing next-generation unmanned aerial systems, AI, and cybersecurity solutions, LIAA pointed out.
LACC Co-Chairman Jānis Bergs emphasized that this will be the most ambitious Latvian business conference ever held in the United States:
“Latvia has become an example of how a small nation, with an innovative mindset and highly skilled professionals, can deliver solutions relevant to the world’s largest markets. This event is a significant step toward positioning Latvia as a credible partner in the North American business and security environment,” he said.
According to LIAA, in 2024 Latvia’s exports of goods and services to the U.S. reached EUR 991.5 million, marking a 3% increase compared to 2023. By 2025, U.S. foreign direct investment in Latvia amounted to EUR 392 million.
Source: BNS
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