On 20 January 2025, Minister of Foreign Affairs Baiba Braže met with representatives from the Latvian Industry Development Confederation (LIAK).
Latvia’s priorities in foreign and security policy and priorities for the next EU Multiannual Financial Framework (2028-2034) – security and defence, the Cohesion Policy, the common agricultural policy, and support for the Rail Baltica project – were the main topics that the Minister of Foreign Affairs, Baiba Braže, discussed with the Board of the Latvian Industry Development Confederation (LIAK).
LIAK has been founded by five Latvian industrial associations – the Latvian Electrical Engineering and Electronics Industry Association (LETERA), the Association of Mechanical Engineering and Metalworking Industries of Latvia (MASOC), the Latvian Information and Communication Technology Association (LIKTA), the Association of the Latvian Chemical and Pharmaceutical Industry (LAKIFA), and the Latvian Forest Industry Federation (LKF). The main focus of LIAK activities is placed on the development of products and technologies for innovation, security and defence industries. Together, the companies in the industries represented by LIAK account for around two thirds of Latvia’s exports.
Baiba Braže exchanged views with LIAK on export promotion, the representation of interests in the EU, market entry activities and support, as well as priorities for the industries and Latvia’s foreign and security policy.
The Minister presented Latvia’s priorities for the next EU Multiannual Financial Framework (2028-2034) – security and defence, Cohesion Policy, Common Agricultural Policy, and support for projects, including Rail Baltica.
The participants of the meeting also discussed the development of artificial intelligence technologies, drones, 5/6G and quantum technologies in Latvia.
The industry representatives underlined the importance of the representation of interests within the EU, and of close and practical cooperation between the public and private sectors, especially in attracting investment.
The participants agreed that economic dependence on Russia and Belarus must be rapidly reduced and that doing business with Russia and its co-aggressors is not sustainable in the long term. Baiba Braže underlined the need to further strengthen and expand sanctions against Russia, including by denying it access to Western technology so as to minimise Russia’s revenues and weaken its military capabilities that enable Russia to continue its war against Ukraine.
Baiba Braže stressed that one of the priorities of the foreign service is support to businesses in raising their visibility, gaining access to foreign markets, and attracting foreign investment and partners. Last year, the foreign service, including embassies and honorary consuls, actively supported Latvian exporting businesses by addressing problems and establishing business contacts.
The Minister of Foreign Affairs, Baiba Braže: “Export is the backbone of the Latvian economy – it accounts for around two thirds of the country’s GDP. CIS countries, including Russia and Belarus, represent a decreasing share in Latvia’s total exports. Conversely, Latvian businesses increased their exports last year not only to European countries but also to more distant markets – the USA, India, Japan, Egypt, the Republic of Korea, Australia, and Canada. Latvia is using all the available EU instruments and opportunities to help businesses succeed in new markets. The foreign service will continue its efforts to strengthen Latvia’s trade links with reliable partners around the world and to attract investment from the EU, NATO, OECD and other trustworthy partners with similar values.”
Baiba Braže noted that in 2024, the work of public authorities, including the foreign service, the Ministry of Economics, the Investment and Development Agency of Latvia and other organisations has resulted in attracting and implementing major investment projects. For example, due to the involvement of the Ministry of Foreign Affairs, Origin Robotics has obtained EUR 4.5 million from the European Defence Fund for the development of a man-portable ISTAR drone with a target designation capability.
The Minister invited the confederation and its members to inform the Ministry of Foreign Affairs about their plans, objectives, funds, projects and businesses which they would be interested in launching cooperation with, especially in the countries where Latvian embassies or honorary consuls are located.
The Members of the Board of the Latvian Industry Development Confederation are Normunds Bergs, Juris Binde, Ivars Eniņš, Kristaps Klauss, and Vitālijs Skrīvelis.
Additional information
About the meeting with the Latvian Employers’ Confederation (LDDK), the Latvian Chamber of Commerce and Industry (LTRK), the Startup House