An official visit to Sweden organized by the Investment and Development Agency of Latvia (LIAA) and led by Latvian Minister of Economics Viktors Valainis has concluded successfully. During two days in Stockholm and Malmö, Latvian entrepreneurs held dozens of meetings with Swedish companies, investors and institutions, discussing cooperation opportunities in the defence industry, digital technologies, green transition, sustainable construction and advanced manufacturing sectors.
Viktors Valainis, Minister of Economics of Latvia: “Sweden is one of Latvia’s most important economic partners and the largest investor in our economy, making this official visit a significant opportunity to strengthen long-term economic cooperation between our countries. Particularly valuable were meetings with internationally recognized companies such as Amazon Web Services and Saab, where we discussed cooperation opportunities in digital infrastructure, defence industries and high technologies. Latvia’s economic growth is closely linked to exports, investments and the ability of Latvian companies to remain competitive in international markets.”
Economic Cooperation Between Latvia and Sweden Continues to Strengthen
The Latvia–Sweden Business Forum in Stockholm brought together more than 200 representatives of companies and institutions from both countries, including more than 130 participants from Latvia. The forum was opened by Latvian Minister of Economics Viktors Valainis and State Secretary for Foreign Trade of Sweden Diana Janse.
The event was also supported by Business Sweden, the Embassy of Sweden in Riga and the Embassy of Latvia in Sweden.
In 2025, total trade turnover in goods and services between Latvia and Sweden reached EUR 2.6 billion, making Sweden Latvia’s fifth-largest foreign trade partner. Sweden is also the largest investor in Latvia, with accumulated Swedish direct investments exceeding EUR 7.7 billion.
Sweden is currently undergoing a large-scale economic transformation with a growing focus on green technologies, digitalization and climate-neutral industry. These are precisely the areas where Latvian companies are increasingly able to offer internationally competitive, high value-added solutions.
Diana Janse, State Secretary for Foreign Trade of Sweden: “Sweden is proud to be the largest investor in Latvia, with more than 500 Swedish companies operating across nearly all sectors of the Latvian economy. They make a substantial contribution to Latvia’s development and strengthen our shared resilience in finance, digital and physical infrastructure, energy, manufacturing and defence. Through trade and investment, we not only promote economic growth, but also reinforce our collective security, as economy and security today are closely interconnected and mutually reinforcing.”
Latvian Companies Showcase Expertise in High Value-Added Industries
During the visit, more than 130 individual business meetings (B2B) took place, alongside an investor forum at the Nasdaq Stockholm and meetings with Swedish companies and investors. Special attention was devoted to cooperation in defence industries, digital infrastructure, green transition and sustainable construction.
The Latvian delegation also met with Stockholm Mayor Karin Wanngård to discuss cooperation opportunities in innovation, sustainable urban development and investment attraction.
Ieva Jāgere, Director of LIAA: “During the visit, we saw significant interest from Swedish companies and investors in Latvia and in the capabilities of our businesses. The Stockholm Business Forum, B2B meetings and the investor event at Nasdaq Stockholm provided Latvian companies with opportunities to establish new contacts and engage potential partners in high value-added sectors. It was especially important to see Latvian companies recognized in Sweden as professional, reliable and competitive partners.”
Latvian Delegation
The Latvian delegation included companies and organizations from the defence, construction, technology, energy, finance, metalworking, food production, logistics and engineering sectors.
Representatives from the defence and high-technology sectors included Latvijas Mobilais Telefons, HansaMatrix, Ammunity, Atlas Aerospace, Baltic Photonics and others.
The construction, industrial and sustainability sectors included UPB, PRIMEKSS, SCHWENK Latvia and several additional industry leaders.
Financial and investment sector participants included Citadele Bank, Signet Bank, INDEXO and Nasdaq Riga.
The visit forms part of LIAA’s long-term efforts to strengthen the export capacity of Latvian businesses, expand their international market presence and support participation in high value-added international projects.
Participation in official visits and international trade missions organized by LIAA is supported under the European Union co-financed programme for innovative SME development with funding from the European Regional Development Fund and the Latvian state.
