BAKU, Azerbaijan, June 18. On June 19, Latvian Economics Minister Viktor Valainis will travel to Germany's Hamburg on a working visit aimed at strengthening economic ties between Latvia and the Northern German region, Trend reports via the Ministry of Economics of Latvia.
The visit seeks to reinforce existing bilateral relationships, explore new opportunities for cooperation, and pave the way for increased engagement by Latvian businesses in the region.
“Hamburg is already one of Latvia’s most strategically significant partners in Germany. We see tremendous potential in expanding this partnership. Through this visit, we aim to deepen established contacts and advance specific cooperation projects that will benefit both Latvian entrepreneurs and our Hamburg counterparts,” said Minister Valainis.
In the course of the visit, Minister Valainis will meet with Hamburg’s Senator for Economy and Innovation, Dr. Melanie Leonhard, as well as leading figures from the region’s business and innovation sectors. A business networking event at the Port of Hamburg will also take place, bringing together Latvian and German companies to explore potential collaborations.
A key moment of the visit will be the signing of a memorandum of cooperation between Latvijas Mobilais Telefons (LMT), the Freeport of Riga, and the Port of Hamburg, focusing on innovation in maritime logistics and digital solutions.
Energy cooperation will also be a top priority. Minister Valainis is scheduled to meet with representatives of the Renewable Energy Cluster of Hamburg to discuss joint projects in wind energy development. He will also visit the HHLA Sky Innovation Center to gain insights into Hamburg’s experience in logistics automation and digital infrastructure.
The visit to the Port of Hamburg will provide a vital platform for knowledge exchange on port management best practices, with a focus on digitalization, sustainable logistics, and governance models that enhance international competitiveness. Latvia aims to learn from Hamburg’s infrastructure development expertise, while showcasing its achievements in port digitalization as a source of inspiration for German partners.
Following the visit, Minister Valainis will address the prestigious “Übersee-Club” – one of Hamburg’s most influential business and political circles – highlighting Latvia’s innovation potential, its reliable business environment, and its strategic role in the Baltic and Northern European regions.
The minister will be accompanied by a delegation of Latvian entrepreneurs and institutions, including representatives from LMT, the Freeport of Riga, LVR Fleet, Techritory, Aerones, and the Latvian ICT Cluster, among others.
Latvia’s active involvement in Hamburg’s Port Days this past May, along with Dr. Melanie Leonhard’s visit to Riga in April, underlines the shared commitment to closer economic cooperation. This visit will serve as a significant step forward in realizing joint projects between Latvia and Northern Germany.
Germany is one of Latvia’s top economic partners, ranking second in 2024 in terms of total trade volume, exceeding €5 billion. It is also one of the largest foreign investors in Latvia, with €1.54 billion in direct investment in 2024. CE–Beteiligungs-GmbH, representing the Lidl retail chain, is the largest German investor by capital investment.
The investment potential between countries remains strong, particularly in innovation, ICT, smart energy, and industrial partnerships.