Latvia Breaks Records With Largest-Ever Trade Mission To Germany

(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 22. Latvian Minister of Economics Viktors Valainis will lead a business delegation of 180 Latvian entrepreneurs and organizational representatives to Hamburg and Mecklenburg–Western Pomerania from September 23 through 26, Trend reports.

On September 25, Prime Minister Evika Siliņa will join the mission to attend a business forum and meet with top officials from Mecklenburg–Western Pomerania.

The mission brings together more than 100 Latvian companies across biotechnology, sustainable energy, financial and information technologies, logistics, construction, and defense industries.

Meanwhile, this will be Latvia's largest trade mission to date.

Germany, the world's third-largest economy, is Latvia's second most important trading partner. Bilateral trade reached 4.98 billion euros in 2024, with Germany ranking as Latvia's third-largest export market, second-largest import partner, and leading destination for service exports. In the first half of 2025, Latvian goods exports to Germany grew by 4 percent to 641.7 million euros, while service exports rose by 6 percent to 355 million euros.

Minister Valainis called the delegation“a historic step” in strengthening Latvia's economic ties with Germany.“This is Latvia's largest-ever business mission, and the largest delegation ever received by Hamburg and Rostock.

Our goal is to increase exports to Germany by 10% and initiate at least four new investment projects. Meetings with city leaders, companies, ports, and universities will create platforms for cooperation that open new opportunities for Latvian business,” he said.

The trade program will include seven thematic tracks: defense, construction, logistics, biotechnology, smart energy, financial technologies, and information technologies.

In Hamburg, Riga Technical University and HafenCity University will sign a cooperation memorandum focused on research and sustainable urban development. Minister Valainis will meet with Hamburg's Finance Senator Andreas Dressel to discuss public-sector support models for fintech and digital services, where Latvian firms see strong potential. Special attention will also be given to green energy, with meetings scheduled with Vice Mayor Katharina Fegebank and leading energy companies.

Latvia will also present major public–private partnership projects, including Rail Baltica and the Riga Airport development.

In addition, Valainis will meet Hamburg's Senator for Economics and Innovation, Dr. Melanie Leonhard, to advance the Marine Technology and Digital Innovation Memorandum signed in June between Latvian and Hamburg partners such as LMT, Riga Freeport, Elektroniskie Sakari, and LVR Flote on the Latvian side, and the Hamburg Port Authority and port fleet from Germany.

In Rostock, the Latvia–Germany Business Day will bring together more than 250 participants to discuss energy, digitalization, infrastructure, and defense industry development. The event will be opened by Prime Minister Siliņa alongside Mecklenburg–Western Pomerania's Minister-President Manuela Schwesig. Panel discussions will feature Minister Valainis, Mecklenburg's Economics Minister Wolfgang Blank, and business leaders from both countries.

The program will also include visits to Nordex Energy's wind turbine production plant, hydrogen developer H2APEX, and EEW Special Pipe Construction, which manufactures offshore wind park foundations and has shown interest in development opportunities in Latvia.

“Germany, especially Northern Germany, has historically been one of Latvia's closest economic partners. This mission of more than 100 companies proves that Latvian businesses have the ambition and determination to be more broadly represented in global markets," Latvian Investment and Development Agency Director Ieva Jāgere emphasized the scale of the initiative.

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