Next week, a delegation of Latvian business leaders, led by Minister of Economics Viktors Valainis, will embark on a working visit to Poland and Ukraine. The highlights of the visit, organized by the Investment and Development Agency of Latvia (LIAA), will be the Latvia–Poland Business Forum in Warsaw and the Latvia–Ukraine Business Forum in Kyiv. The aim of the visit is to strengthen economic cooperation with both countries, foster new partnerships, and expand export and cooperation opportunities for Latvian companies in the defense, technology, and energy sectors.
Economics Minister Viktors Valainis:
“The business forums in Poland and Ukraine are a targeted step toward strengthening the presence of Latvian companies in foreign markets and developing new cooperation projects in sectors where there is currently high demand for innovative and security-enhancing solutions. Poland is a large and significant market with broad potential for cooperation, while in Ukraine, the knowledge and technologies of Latvian companies can make a practical contribution to both strengthening the country’s resilience and its future development.”
The Latvia–Poland Business Forum, scheduled for the second half of the week in Warsaw, will bring together entrepreneurs, industry experts, and representatives of institutions from both countries. The forum’s program includes an opening session with the participation of Latvian and Polish officials, presentations on the business environment in both countries, as well as panel discussions on defense and security, information and communication technologies (ICT) and information technology (IT), as well as opportunities for cooperation in the energy sector. The program will conclude with networking and business-to-business (B2B) meetings.
Poland is one of Latvia’s most important foreign trade partners. Last year, the total trade turnover in goods and services between the two countries reached 3.94 billion euros, ranking Poland fourth among Latvia’s foreign trade partners. Exports to Poland reached 1.06 billion euros, while imports from Poland amounted to 2.88 billion euros. At the end of last year, Poland’s cumulative direct investments in Latvia stood at 275 million euros, while Latvia’s cumulative direct investments in Poland were 132 million euros.
During the visit, Latvia will highlight the potential for cooperation with Poland in defense and dual-use technologies, digital solutions, cybersecurity, and energy. These areas align with both the forum’s thematic focus and the interests of Latvian companies, as well as the development of cooperation with Polish partners to date.
LIAA Director Ieva Jāgere:
“Business forums in Poland and Ukraine offer Latvian companies a targeted opportunity to meet and engage with partners in two markets of strategic importance to Latvia. The interest shown by companies confirms that Latvia has a competitive offering in sectors where innovation, reliability, and the ability to provide practical solutions are of decisive importance. It is precisely such visits that help turn contacts into concrete cooperation with added value.”
Following the visit to Poland, the delegation will travel to Ukraine, where the Latvia–Ukraine Business Forum will take place in Kyiv, aimed at expanding practical cooperation with partners in Ukraine. The forum’s program includes the participation of officials from both countries, a plenary session on strengthening business ties between Latvia and Ukraine, a business session on new opportunities for economic cooperation, as well as panel discussions on defense, energy, and technology. The program also includes networking opportunities, B2B contacts, and a separate working session for Ukrainian companies.
Economic cooperation between Latvia and Ukraine maintains significant momentum even under challenging circumstances. Last year, the total trade turnover in goods and services between Latvia and Ukraine was 723.6 million euros. Exports to Ukraine reached 430.5 million euros, while imports amounted to 293.2 million euros. Latvia’s trade balance with Ukraine remained positive. At the end of 2025, Ukraine’s accumulated direct investments in Latvia stood at 295 million euros, while Latvia’s accumulated direct investments in Ukraine were 144 million euros.
Cooperation with Ukraine to date has also yielded practical results. The format of the Latvian-Ukrainian Business Forum has previously been used to establish direct contacts between companies, institutions, and industry partners, with a particular focus on the defense, energy, and technology sectors. Once again, the forum’s agenda has been designed with an emphasis on practical cooperation and the development of new projects.
Companies and organizations included in the Latvian delegation:
AK Consultante SIA, BALTĀS NAKTIS SIA, BELAM-RĪGA SIA, Brasa Defence Systems SIA, Easywood SIA, Eco Baltia Vide, EcoHeat Technologies SIA, Exonicus R&D SIA, FORTES SIA, Kaski SIA, AS Latvenergo, Latvian Exporters Association “The Red Jackets”, SIA Latvijas Mobilais Telefons, Latvian Chamber of Commerce and Industry, Lesjofors Springs LV LSEZ SIA, AS Olpha, Playoff SIA, AS Rietumu Banka, RĪGAS DĪZELIS DG SIA, SGU LV SIA, Stiga RM SIA, SIA Tet, TETERS SIA, SIA Tilde, and the Ventspils Free Port Authority. The delegation’s composition reflects Latvia’s broad range of offerings—from defense and dual-use solutions to ICT, energy, pharmaceuticals, industry, and export development cooperation.
The visit is organized by the LIAA in cooperation with the Ministry of Economics and partner organizations in Poland and Ukraine.
The LIAA organizes participation in trade missions as part of the European Union-co-financed Innovative Entrepreneurship Development Program for Small and Medium-Sized Enterprises (SMEs), with support from the European Regional Development Fund and state funding.
Translated with DeepL.com (free version)
