On Wednesday, 16 September, the main business events of the Latvian business trade mission to Berlin, organised by the Investment and Development Agency of Latvia (LIAA), got underway. The programme opened with a meeting between Minister of Economics Viktors Valainis and State Secretary at Germany’s Federal Ministry for Economic Affairs and Energy Thomas Steffen, during which the officials discussed opportunities to expand economic cooperation between the two countries and prospects for Latvian companies in the German market. Throughout the day, Latvian companies will meet German businesses and investors, take part in sector-specific events and company visits, with the aim of developing new cooperation projects and expanding their presence in Germany.
The programme on 16 September began with an information session for the Latvian delegation on Germany’s economic development, political environment and business opportunities. Participants included Latvia’s Ambassador to Germany Ilze Rūse, representatives of Germany Trade & Invest, Berlin’s business and technology development agency Berlin Partner, 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 EUR 2.09 billion last year, and growth has continued this year: goods exports increased by 10% in the first half of the year, while services exports grew by 23% in the first quarter. These results show that Latvian companies are capable of competing in Europe’s largest economy. The aim of this visit is to help more Latvian companies become long-term partners of German businesses, integrate into supply chains, secure new orders and attract investment,” Minister of Economics Viktors Valainis said, outlining the objectives of the trade mission.
Information and communication technology sector activities in Berlin have been taking place since 14 September. On 16 September, the business delegation led by Minister of Economics Viktors Valainis joined the trade mission programme.
“Three figures illustrate the scale of economic cooperation between Latvia and Germany: trade turnover reached EUR 5.5 billion in 2025, accumulated German foreign direct investment in Latvia amounted to EUR 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 industry companies are meeting system integrators and manufacturers, while ICT companies are meeting potential clients and technology partners. A programme structured in this way allows companies to discuss concrete cooperation opportunities from the outset,” says Vita Balode-Andrews, Director of the Export and Innovation Services Department at LIAA.
The trade mission includes Latvian companies representing information and communication technologies, financial technologies, life sciences, smart energy, as well as defence and dual-use technologies. The programme includes 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 meetings.
“Germany is an important and demanding export market, where successful cooperation is built on long-term relationships and mutual trust. Trade missions of this kind give Latvian companies an opportunity to engage in direct dialogue with potential partners and investors, better understand their needs, and demonstrate their expertise and reliability. Consistent cooperation, personal relationships and the ability to deliver on commitments are what help Latvian companies become stable, long-term partners in the German market,” emphasises 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 EUR 1.47 billion to approximately EUR 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: in the first half of 2026, exports to Germany increased by 11%, while Latvia’s total exports grew by 6%. Germany is also Latvia’s largest services export market, with services exports reaching EUR 779 million in 2025. More than 1,000 companies with German capital operate in Latvia, with their total investment in share capital exceeding EUR 800 million.
Photo gallery: Latvian entrepreneurs on a trade mission to Germany | Day One
©️ Photothek/LIAA
Participation in international trade missions organised by LIAA in close cooperation with the Embassy of Latvia in Germany, with the support of the Latvian Ministry of Foreign Affairs and is supported under the European Union co-financed Programme for the Development of Innovative Entrepreneurship of Small and Medium-sized Enterprises (SMEs), with funding from the European Regional Development Fund and the national budget. Companies may participate in trade missions either on a fee-paying basis or by receiving support to cover eligible costs.
