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.
