BAKU, Azerbaijan, June 17. From 16 to 18 June 2025, the Ministry of Foreign Affairs of Latvia is hosting an annual economy-themed training workshop for Latvian diplomats abroad, which is being organized for the first time in cooperation with the Investment and Development Agency of Latvia (LIAA), Trend reports, citing the country's Foreign Ministry.
The Minister of Foreign Affairs, Baiba Braže, emphasized in her remarks to the participants of the training that support for businesses in external markets and attraction of foreign investment to Latvia is one of the main priorities of the Foreign Service; therefore, special attention should be paid to mutual cooperation.
“Let me thank the Investment and Development Agency of Latvia for cooperation in pursuit of Latvia’s economic interests—both in foreign markets and by receiving incoming visits to Latvia. Support to businesses through promoting their visibility on entering external markets and attracting foreign investment and partners is one of the priorities for the Foreign Service. Representatives of both our embassies and public institutions, including LIAA, have an important role to play in promoting Latvia as a stable and enabling environment for investment”, she said.
Braže also invited the audience to become acquainted with the latest annual EY European Attractiveness Survey 2025, which measures new foreign investment activity in Europe and examines investor attitudes. It is noted in the survey that last year Latvia was the most successful among the Baltic states in terms of investment attraction. Last year, 33 new foreign investment projects were launched in Latvia, which is 50 percent more than in 2023, when 22 new projects were registered. Latvia is also the only Baltic state where an increase in new foreign investment projects and jobs created by them has been achieved compared to 2023.
In addition, the latest research by the Foreign Investors Council in Latvia (FICIL), which was its first-ever comparative study on the investment environment in all three Baltic States—the FICIL Sentiment Index—concluded that the attractiveness of Latvian investments has significantly increased compared to the previous year—from a low index of 1.9 to a moderate 3 on the five-point scale. FICIL’s public statement mentions that the investment climate in Latvia has improved significantly—foreign investors offer many positive opinions, acknowledging the efforts of the Latvian government to strengthen the defense sector and ensure stability, despite the persistent geopolitical uncertainties and other challenges.
Representatives of the defense sector confirmed the need to develop various cooperation models to strengthen the Latvian defense industry. The development of innovation is of crucial importance—industry, the research sector, and public institutions all must work together to build production capacities and integrate themselves into the dynamic environment of the industry. We must be able to make effective use of the knowledge base existing in Latvia and continue communicating current success stories.
The participants were addressed by the Parliamentary Secretary at the Ministry of Economy, Jurģis Miezainis, and the Director of LIAA, Ieva Jāgere, who provided an overview of current major investment projects in Latvia and LIAA goals in mobilizing investments.
At the matchmaking event on the second day of the seminar, 17 June, LIAA experts working together with Latvian diplomats abroad will provide advice on export promotion and support in the markets of respective countries: Australia, Austria, Canada, Finland, Germany, Italy, Israel, Japan, the Netherlands, Norway, Spain, Sweden, the United Arab Emirates, the United Kingdom, the United States, and Uzbekistan.
Diplomats from the Foreign Ministry will also hold consultations on export opportunities and support instruments for countries where there is no LIAA representative office: Azerbaijan, Belgium, China, Czechia, Egypt, Estonia, France, Georgia, Hungary, India, Ireland, Kazakhstan, Moldova, Poland, Türkiye, and Ukraine.
The participants, together with the Latvian business organizations the Latvian Employers’ Confederation (LDDK), the Latvian Chamber of Commerce and Industry (LTRK), the Latvian Exporters Association “The Red Jackets,” and the Latvian Industry Development Confederation (LIAK), will engage in a discussion on the tools and methods of promoting Latvian business interests in foreign markets.
By tradition, as part of the training, the participants take a closer look at companies in a Latvian region. This year, on 18 June, the third day of the course, the participants will visit companies in Zemgale—SIA Lafora (one of the largest peat extraction and processing companies) and SIA Fortes (a company specializing in wood gasification systems).
The aim of the training is to provide an in-depth insight into economic processes and to promote cooperation between diplomats and LIAA staff so as to offer the necessary support to Latvian businesses, facilitate exports, and attract investments. For the first time, Latvian diplomats in charge of economic contacts, together with the representatives of LIAA abroad, will participate in a joint contact session with Latvian businesses. Taking part in training are Latvian diplomats from 31 countries and LIAA staff from 17 countries, working with the promotion of economic relations and building contacts on a daily basis. Representatives from almost 100 companies have already applied for participation to receive individual consultations on the opportunities for export promotion and support in foreign markets in 33 countries.
LIAA promotes competitiveness of Latvian businesses, export growth, and attraction of investments, as well as developing the tourism sector and implementing the nation branding policy. The agency acts as a national partner in business development, from an idea to international markets. With a wide network of representative offices abroad and regional business centers in Latvia, LIAA helps companies grow and positions Latvia as a safe, innovative, and open country in the global economy.
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