The main business events of a Latvian trade mission organised by the Investment and Development Agency of Latvia (LIAA) begin in Berlin on Wednesday, 16 September. The programme opened with a meeting between Latvia’s Minister for Economics, Viktors Valainis, and Thomas Steffen, State Secretary at Germany’s Federal Ministry for Economic Affairs and Energy. The officials discussed expanding economic cooperation between the two countries and opportunities for Latvian companies in the German market. Throughout the day, Latvian entrepreneurs will meet German companies and investors and participate in industry events and company visits aimed at developing new cooperation projects and expanding their operations in Germany.
The programme on 16 September began with a briefing for the Latvian delegation on Germany’s economic development, political environment and business opportunities. Participants included Latvia’s Ambassador to Germany, Ilze Rūse, as well as representatives of Germany Trade & Invest, Berlin Partner for Business and Technology and the German Eastern Business Association (Ost-Ausschuss der Deutschen Wirtschaft).
“Germany is Latvia’s second-largest trading partner. Latvian exports to this market reached €2.09 billion last year, and growth has continued this year: exports of goods increased by 10% in the first half of the year, while exports of services rose by 23% in the first quarter. These results demonstrate that Latvian companies can compete in Europe’s largest economy. The purpose of this visit is to help more Latvian companies become long-term partners of German businesses by joining supply chains, securing new orders and attracting investment,” Minister for Economics Viktors Valainis said, outlining the objectives of the trade mission.
Events for the information and communications technology sector have been taking place in Berlin since 14 September. On 16 September, a business delegation led by Minister for Economics Viktors Valainis joined the trade mission’s programme.
“The scale of economic cooperation between Latvia and Germany can be illustrated by three figures: bilateral trade reached €5.5 billion in 2025, accumulated German direct investment in Latvia amounted to €1.63 billion, and 1,087 companies with German capital operate in Latvia. In Berlin, Latvian fintech companies are meeting banks and investors, life sciences companies are meeting research centres and healthcare institutions, defence companies are meeting systems integrators and manufacturers, while ICT companies are meeting prospective clients and technology partners. A programme structured in this way enables companies to discuss specific opportunities for cooperation immediately,” said Vita Balode-Andrūsa, Director of LIAA’s Export and Innovation Services Department.
The trade mission includes Latvian companies operating in information and communications technology, financial technology, life sciences, smart energy, defence and dual-use technologies. Its programme features visits to companies and innovation centres, participation in events dedicated to the German-Baltic digital dialogue and artificial intelligence, sector-specific meetings and individual business discussions.
“Germany is an important and demanding export market in which successful cooperation is built on long-term relationships and mutual trust. Trade missions such as this give Latvian companies an opportunity to establish a direct dialogue with prospective partners and investors, gain a better understanding of their needs, and demonstrate their expertise and reliability. Consistent cooperation, personal contacts and the ability to fulfil commitments are precisely what help Latvian companies become stable, long-term partners in the German market,” emphasised Līva Stūrmane, Head of the Latvian Exporters’ Association, The Red Jackets.
Germany is Latvia’s largest export market outside the Baltic states. Since 2020, Latvia’s exports of goods and services to Germany have increased by more than 40%, from €1.47 billion to approximately €2.1 billion in 2025. Last year, Latvia exported more to Germany alone than to the United States, France and China combined. Growth has continued this year: during the first half of 2026, exports to Germany increased by 11%, compared with a 6% rise in Latvia’s total exports. Germany is also Latvia’s largest market for service exports, which reached €779 million in 2025. More than 1,000 companies with German capital operate in Latvia, with their combined investment in share capital exceeding €800 million.
LIAA organises participation in international trade missions under the European Union co-financed programme for the development of innovative entrepreneurship among small and medium-sized enterprises (SMEs), with support from the European Regional Development Fund and national funding. Companies may participate in trade missions either for a fee or by receiving financial support to cover eligible costs.
