Latvia Days in Germany – entrepreneurs are invited to apply for a trade mission
Latvia Days in Germany – entrepreneurs are invited to apply for a trade mission
Germany is one of Latvia’s most important economic cooperation partners both in terms of exports and attraction of investment, which is why Germany has been chosen as one of the target countries for the Latvia Days and Business Trade Mission to be held during the Hamburg Port Anniversary from 7 to 12 May. The event will be part of the external marketing strategy #MissionLatvia implemented by the Investment and Development Agency of Latvia (LIAA).
“Economic cooperation between Latvia and Germany covers a wide range of sectors, including mechanical engineering, automation and robotics, IT, smart and innovative technologies, start-ups, pharmaceuticals, timber, energy and other industries. By organising Latvia Days in Germany, we want to strengthen our economic cooperation and reach out to potential investors,” said Iveta Strupkāja, Acting Director of LIAA, adding that on 2 and 3 April, a delegation of German entrepreneurs will pay an official visit to Riga together with Senator Melanie Leonhard, Chairwoman of the Ministry of Economy and Innovation in the Free and Hanseatic City of Hamburg, who will visit several Latvian companies, as well as meet with the management of Riga Technical University and the Freeport of Riga, confirming Hamburg’s interest in closer cooperation with Latvia.
Within the framework of the Latvia Days in Germany from 7 to 10 May, Minister of Transport Kaspars Briškens is scheduled to participate in the official programme of the Hamburg Port Anniversary and the Latvia-Hamburg Business Forum, organised by LIAA together with the Hamburg Ministry of Economics and Innovation, the Hamburg Chamber of Commerce and the Port of Hamburg.
Entrepreneurs are invited to apply for participation in the official delegation, which will allow them to establish new contacts and cooperation with companies in the sectors of interest, as well as get to know the fields of digitisation, artificial intelligence, transport and logistics, energy and innovation, as well as start-ups in Germany. The programme will be organised in cooperation with the LIAA Representative Office in Germany. You can apply for the trade mission here.
The wide-ranging programme of Latvia Days in Germany will take place at the Hamburg Port Anniversary from 9 to 12 May, with the aim to raise the profile of Latvia, thereby increasing exports and attracting investment, while at the same time introducing Latvian products, gastronomy, culture, innovations and technologies to the German population. The event organisers expect 250–350 000 people to attend the four-day Latvia Days in Kehrwiederspitze.
The Port of Hamburg is the third largest port in Europe and the most important economic sector in the Federal State of Hamburg. The Hamburg Port Anniversary is an annual event attended by up to 1.5 million residents and visitors. The main purpose of the event is to celebrate the importance of Hamburg as a major port city and to promote economic cooperation, in particular with the specific partner country of the festival, which this year will be Latvia. For more information about the festival, please visit https://www.hamburg.de/hafengeburtstag/.
The programme will be organised in cooperation with the LIAA Representative Office in Germany. The sectors identified as the most promising for cooperation during the visit are: digitalisation, artificial intelligence, transport and logistics, energy and innovation, as well as start-ups.
In 2023, Germany was Latvia’s 3rd largest goods export partner and 2nd largest goods import partner. Latvia’s exports to Germany amounted to EUR 1.30 billion, while imports from Germany amounted to EUR 2.60 billion. In 2023, Latvia’s foreign trade balance with Germany was negative (EUR 1.30 billion). In 2023, exports to Germany accounted for 6.9% of Latvia’s total exports while imports accounted for 11.2% of total imports.
The most important Latvian exports to Germany are wood products, cars, machinery and electrical goods. The most significant imports from Germany are vehicles, cars, machinery and electrical equipment, as well as chemical products.
LIAA organises country visits within the framework of the Innovative Business Development Programme for Small and Medium-sized Enterprises (SMEs), co-financed by the European Regional Development Fund and the Latvian State budget.
