During a trade mission to Berlin organized by the Latvian Investment and Development Agency (LIAA), investment projects by German companies and new opportunities for cooperation in Latvia in the fields of energy, defense technology, autonomous mobility, and space technology were promoted. The total planned value of the two most advanced investment projects exceeds 600 million euros. Fifty-four Latvian companies and organizations participated in the mission, meeting with potential clients, investors, banks, manufacturers, research centers, and medical institutions.
The trade mission in Berlin took place from September 14 to 17. The companies represented the information and communication technology, financial technology, life sciences, defense, and dual-use technology sectors.
Summarizing the results of the visit, Minister of Economics Viktors Valainis noted that “Germany is Latvia’s largest export market outside the Baltic states and one of the world’s most significant industrial and technology economies. Three years of focused work with German partners has already resulted in concrete investment projects totaling more than 600 million euros. In Berlin, we discussed the further implementation of a renewable energy project with ‘Notus Energy,’ and with ‘Dynamit Nobel Defence,’ we discussed the next steps for the planned defense technology manufacturing facility in Latvia. A meeting with Thomas Steffen, State Secretary at the German Federal Ministry for Economic Affairs and Energy, confirmed both countries’ interest in expanding economic cooperation. “Our task is to ensure that investor interest translates into production facilities, technologies, and jobs in Latvia, while Latvian companies gain an increasingly strong foothold in the German market.”
Sector-specific events and company visits were complemented by individual business and investment meetings.
“Latvia and Germany are united by successful economic cooperation and a shared vision of what needs to be done to promote economic growth in both countries and strengthen Europe’s competitiveness. The European Union’s single market is our greatest advantage, while establishing direct cooperation between companies is an essential prerequisite for successful future development,” emphasized German Federal Minister for Economic Affairs and Energy Katherina Reiche and State Secretary Thomas Steffen.
From Energy Projects to Autonomous Vehicles
During the meeting with the management of “Notus Energy,” the future implementation of the two companies’ renewable energy projects in Latvia was discussed. Attention was focused on practical issues affecting the progress of the projects, including conditions for wind farm development, grid connections, obtaining permits, and the availability of financing.
In talks with the German defense technology company “Dynamit Nobel Defence,” work continued on the planned production facility in Latvia. The company and the State Defense Corporation signed a memorandum of understanding in February regarding the establishment of the production facility; therefore, the Berlin meeting focused on the project’s next steps and opportunities to develop the company’s other initiatives in Latvia.
The Latvian delegation also met with the company “HOLON,” which develops fully electric, autonomous passenger minibuses for public transportation and mobility services. The discussions assessed Latvia’s potential involvement in the company’s European development plans—including the manufacturing of vehicles and their components, the establishment of supply chains, the testing of autonomous mobility, and technology development.
“LiveEO,” a Berlin-based space technology company that uses satellite imagery and artificial intelligence to monitor power lines, railways, pipelines, and other critical infrastructure, was invited to expand its operations in Daugavpils. The company’s subsidiary in Latvia has been operating for four years. In a separate seminar, opportunities for data center development in Latvia were also presented to German companies.
In Berlin, the minister also met with Verena Hubertz, Germany’s Federal Minister for Housing, Urban Development, and Construction; attended a working lunch with investors; and, together with a delegation of Latvian information and communication technology companies, visited the Microsoft office.
Four Sectors and Different Paths to the German Market
Information and communication technology companies participated in events dedicated to German-Baltic digital cooperation and artificial intelligence, including the international “Big Bang AI Festival.” Latvian companies presented solutions in artificial intelligence, data processing, cybersecurity, and process automation. At the Baltic–German Digital Summit, Viktors Valainis delivered a speech on Latvia’s transition from digital public administration to an economy ready for the use of artificial intelligence.
Latvian fintech companies entered the German market with significant operational experience. Eight investment platforms regulated in Latvia serve more than 800,000 investors abroad, and the volume of investments made through them exceeds 13 billion euros. German investors account for approximately 30% of the demand on Latvian investment platforms. In Berlin, Latvian companies met with 20 institutional investors, family offices, and representatives of the financial sector to increase the amount of capital raised and expand cooperation with German banks and other financial market participants.
Companies participated in the life sciences delegation alongside Latvian universities, hospitals, and research organizations. The delegation visited the Berlin-Buch biotechnology ecosystem, the companies “FyoniBio” and “BIOTRONIK,” as well as the “Helios Klinikum Berlin-Buch” hospital. The Latvian representatives approached potential partners for collaboration on joint product development, clinical research, technology testing and validation, certification, manufacturing, and distribution.
Defense and dual-use technology companies in Germany represented a sector in which Latvia has already gained international recognition. Unmanned and anti-drone systems developed in Latvia are already in use in several NATO countries. In Berlin, Latvian companies met with the German Security and Defense Industry Association, a representative of the German Federal Ministry of Defense, and German industrial firms. Discussions covered component supply, supplier qualification, system integration, electronic warfare, secure communications, counter-drone measures, and autonomous systems.
The delegation also visited Andres Industries AG, a manufacturer of thermal imaging and night vision technologies. German companies such as Rheinmetall, HENSOLDT, Rohde & Schwarz, and Quantum Systems participated in the in-depth sector-specific discussions.
Memorandum Expands Support Available to Exporters
In Berlin, the LIAA, the German Association of Chambers of Industry and Commerce (DIHK), and the German-Baltic Chamber of Commerce (AHK) signed a memorandum of understanding. This will provide Latvian companies with access to the knowledge, contacts, and services of the German foreign trade chamber network at 150 locations in more than 90 countries.
The German-Baltic Chamber of Commerce will establish a dedicated contact point to support Latvian exports. Each year, the LIAA and the AHK will select two countries and, in each, two sectors whose companies’ exports will receive special attention.
“This mission demonstrated the results of focused work following the initial meeting. In some investment projects, we are no longer just discussing initial contact—together with investors, we are moving forward with specific next steps so that, once the necessary preparatory work is completed, negotiations can give way to construction equipment. For other Latvian companies in Berlin, this was the first discussion with a potential partner, and now it is important to turn this contact into the next practical step—arranging a technology trial, initiating supplier qualification, or reaching a contract. It may take several months to close an export deal, but several years to implement complex or technologically advanced projects. The agreement concluded in Berlin with German chambers of commerce will expand the network of contacts and support available to companies. “The LIAA will continue to support Latvian companies and drive the projects discussed in Berlin toward concrete results even after returning to Latvia,” notes Vita Balode-Andrūsa, Director of the LIAA’s Export and Innovation Services Department.
Germany is Latvia’s largest export market outside the Baltic states. The total trade turnover in goods and services between Latvia and Germany reached 5.5 billion euros in 2025, while Latvia’s exports to Germany amounted to 2.09 billion euros.
“This was already the third large-scale trade mission by Latvian businesses to Germany in recent years, this time bringing together 54 Latvian companies and organizations. Such continuity is important because a single visit to the German market is not enough. Germany is Europe’s largest market and is located at the economic heart of the continent. Entering and establishing a foothold in this market often paves the way to other European regions as well. German companies are known for their high standards regarding quality, deadlines, and supplier reliability; therefore, successful cooperation with them significantly strengthens a Latvian company’s reputation and position in international markets. It is gratifying to see that German companies’ investment projects—worth more than 600 million euros—in the fields of green energy and defense technologies are moving forward, and that key issues regarding their implementation were addressed during this visit as well. This clearly demonstrates the scale and significance of the German market for Latvia’s economy,” notes Līva Stūrmane, head of the Latvian Exporters Association “The Red Jackets.”
Photo galleries from the first day (September 16, 2026)
Photo galleries from the second day (September 17, 2026)
©️ Photothek/LIAA
Participation in trade missions abroad is organized by LIAA as part of the European Union-co-financed Program for the Development of Innovative Entrepreneurship in Small and Medium-Sized Enterprises (SMEs), with support from the European Regional Development Fund and state funding. A company may participate in a trade mission either by paying a fee or by receiving support to cover eligible expenses.
