As part of the State Visit of the President of Latvia, Edgars Rinkēvičs, to Estonia, the Latvia–Estonia Business Forum "Stronger Together" was officially opened today, 2 July, at the National Library of Estonia in Tallinn. The forum is dedicated to cooperation in defence, dual-use technologies and high-tech industries. The first day of the forum began with a significant bilateral agreement, as the Ministers of Economy of Latvia and Estonia signed a Memorandum of Understanding on cooperation in supply security and strategic state reserves.
The Memorandum between the Ministry of Economics of the Republic of Latvia and the Ministry of Economic Affairs and Communications of the Republic of Estonia was signed by Latvian Minister of Economics Viktors Valainis and Estonian Minister of Economic Affairs and Industry Erkki Keldo. The document follows the agreement reached during the joint meeting of the Latvian and Estonian governments on 27 August 2025 and aims to strengthen coordination and cooperation between the two countries in the fields of supply security and strategic state reserves.
The Memorandum establishes a structured framework for cooperation, providing for closer coordination between the responsible institutions of both countries, enhanced information exchange, and joint action during crisis situations to strengthen regional resilience and ensure the availability of critical resources. Practical implementation will be carried out by the designated authorities—Possessor, Latvia's state-owned asset management company, and the Estonian State Reserve Agency.
The Memorandum is accompanied by a Joint Action Plan for 2026–2028, which includes cooperation in fuel reserve management, coordinated responses to electricity supply disruptions, exchange of information on critical infrastructure, and the development of a common approach to fuel procurement and EU-level strategic reserve initiatives.
Minister of Economics Viktors Valainis:
"The Memorandum signed today represents a concrete step towards strengthening Latvia's and Estonia's resilience against supply chain disruptions and crisis situations. Closer cooperation in strategic reserves and fuel supply means we can rely on each other when it matters most. This is an investment in the security and economic stability of both our countries."
Following the signing ceremony, the forum's first working session commenced with opening addresses by Estonian Minister of Economic Affairs and Industry Erkki Keldo and Latvian Minister of Economics Viktors Valainis. The programme continued with presentations on the defence procurement systems of both countries, delivered by Asko Kivinuks, Deputy Director General of the Estonian Centre for Defence Investments, and Uģis Norītis, Deputy State Secretary for Planning at the Latvian Ministry of Defence, followed by a panel discussion on strengthening security through cooperation and innovation in air, land and cyber defence.
The first day of the forum also featured keynote addresses by the Presidents of both countries—President of Estonia Alar Karis and President of Latvia Edgars Rinkēvičs—as well as the presentation of the Livonia Award, recognising companies that have made a significant contribution to strengthening economic cooperation between Latvia and Estonia.
The business forum serves as a platform for expanding cooperation between Latvian and Estonian companies at a time when regional security, supply chain resilience and technological advancement have become essential prerequisites for competitiveness.
LIAA Director Ieva Jāgere:
"Today's Memorandum and the opening day of the forum demonstrate how strategically important cooperation between Latvia and Estonia has become—both at the governmental and business levels. LIAA's role is to help Latvian companies transform this political and institutional cooperation into tangible business results: new partnerships, export opportunities and investments that strengthen the economic resilience and security of both our countries."
The Latvian delegation includes the President of Latvia, representatives of the Ministry of Economics, and more than 45 Latvian companies representing the defence industry, information and communication technologies, cybersecurity, dual-use technologies and other high value-added sectors.
LIAA organises participation in official visits and trade missions abroad under the European Union co-funded SME Innovative Business Development Programme, supported by the European Regional Development Fund and national funding. Companies may participate either on a self-financed basis or by receiving support for eligible costs.
About the Investment and Development Agency of Latvia (LIAA)
The Investment and Development Agency of Latvia (LIAA) is a state institution operating under the supervision of the Ministry of Economics. LIAA helps Latvian companies expand internationally, attract investment and foster innovation. The agency supports exports, market diversification, investment projects and initiatives that strengthen Latvia's competitiveness in the global economy.
Photos: https://failiem.lv/LIAA/u/hn5rmg9k7w
