This week, the Latvian business delegation concluded a trade and investment mission in Washington, D.C., featuring more than 100 individual meetings with potential investors, the launch of new export partnerships, and the signing of an agreement to represent Latvian business interests across 29 U.S. states.
The mission, held from October 13 to 17, focused on strengthening cooperation in defense, energy, and digital technologies. Latvian companies participated in the “AUSA Annual Meeting & Exposition,” one of the world’s leading defense industry exhibitions, and the “Spotlight Latvia” business conference, which gathered more than 200 participants from Latvia and the United States.
Latvia Strengthens Economic Ties with the United States
“In the past six months, investments from the United States in Latvia have grown by 18%, and this trade mission proved that the potential is even greater. We met investors who expressed strong interest in Latvia, and several plan to visit our country later this year to finalize their investment decisions. Strengthening economic relations with the United States is not only about investment—it is also about security. This visit has demonstrated that Latvia is a reliable and trustworthy partner,” said Minister of Economics Viktors Valainis.
€90 Million Investment Project Agreed in Kurzeme Region
During the mission, several high-readiness investment projects were identified, including an agreement on an €90 million project in Kurzeme, aimed at developing military manufacturing capacity. U.S. companies have shown strong interest in dual-use technologies, the energy sector, and green innovation.
Progress also continues on the Norsaf project in Liepāja, where U.S. technologies are being used to advance green aviation production. Latvian defense industry companies such as Edge Autonomy (unmanned aerial vehicles) and Exonicus (combat medical training simulators) are also successfully expanding their presence in the U.S. market.
Expanded Support for Latvian Businesses in the U.S. Market
One of the mission's key outcomes was the signing of a cooperation agreement between the Investment and Development Agency of Latvia (LIAA) and the Latvian-American Chamber of Commerce (LACC).
The agreement ensures that Latvian companies can now access support in 29 U.S. states, using LACC’s extensive network to receive advice on market entry, partner search, and investment opportunities.
“We are very pleased with the strong participation of Latvian companies in LIAA’s international activities. This was already the fifth ‘Spotlight Latvia’ conference, and our ambitions continue to grow. In two years, we aim to make it a Baltic-scale event, strengthening economic cooperation between the entire region and the United States,” said Director General at LIAA Ieva Jāgere.
Academic Cooperation and Innovation Perspective
During the visit, Zaiga Pūce, Head of the University of Latvia Foundation, and Enno Ence, Vice-Rector for Development at the University of Latvia, visited Princeton University, where they met with Steve Staples, Assistant Vice President for Development (Principal Gifts), and representatives of the university’s annual giving campaign.
Princeton is renowned for its exceptionally high alumni engagement, with 60% of graduates donating annually. The Latvian delegation learned about Princeton’s fundraising strategy and alumni engagement practices, marking the beginning of a closer cooperation between the two universities in selected scientific and innovation areas.
About the Mission
The trade mission is organised by the Ministry of Economics of Latvia and the Investment and Development Agency of Latvia (LIAA), in cooperation with the Embassy of Latvia in Washington, D.C. and the Latvian-American Chamber of Commerce (LACC).
The initiative is co-funded by the European Regional Development Fund.
Photo: Trade mission to U.S.
