The Latvian language is increasingly heard in Hamburg and Rostock – and this is no coincidence. Northern Germany has historically been an important destination for Latvian entrepreneurs seeking new export opportunities and investors for projects in their homeland.
Germany is the third largest economy in the world and Latvia’s second most important trading partner. Last year, trade between the two countries reached almost five billion euros.
In this context, it is not surprising that from September 24 to 26 (2025), more than 180 entrepreneurs from various industries traveled to Germany, representing more than 100 Latvian companies, ranging from biotechnology and energy to finance and defense technologies.
Photo: ©️Photothek/Thomas Köhler
Ieva Jāgere, Director of the Latvian Investment and Development Agency, reminds us that Latvian-German cooperation has deep historical roots. “Due to various geopolitical and logistical changes, Latvia lost its position for a while, but today we see many new opportunities,” she emphasizes.
Economics Minister Viktors Valainis has set specific goals for this visit – to increase exports to Germany by 10% and to achieve the implementation of at least four new investment projects. Although the results are not yet visible, the minister believes that the trip has been successful – several memoranda of cooperation have been signed and new agreements have been concluded.
“These are just the most visible examples. Intensive negotiations with investors are taking place in several thematic working groups, and both private and public projects that could be implemented in the future have been presented,” explains Valainis.
Entrepreneurs also view the trip positively. Emīls Krauze, CEO of Hygo X, points out that Latvians and Germans have a similar way of thinking, which facilitates cooperation.
“It is important to be able to communicate and build trust—here, it comes naturally.” Andrejs Stolers, member of the board of Vilks, adds that such a joint visit provides an opportunity to meet high-level partners with whom it would be difficult to communicate on a daily basis.
“Everyone here has come with one goal in mind – to find opportunities for cooperation, and that makes it easier to establish contacts,” he says.
The visit also sparked interest among German entrepreneurs. Many local representatives attended the events in Hamburg and Rostock. Germany is one of the leading countries in terms of direct foreign investment in Latvia.
Arne Heks, head of the German wind energy company Neue Energien, emphasizes that investors carefully assess security risks, but this does not deter them from investing in the Baltics. “Many Germans feel a historical responsibility to help preserve the independence of the Baltic states. It is a matter of shared conviction,” he notes.
According to Heks, there is particularly great potential in the wind energy sector, where Latvia still has vast untapped opportunities.
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