During the trade mission of Latvian entrepreneurs to the U.S., an agreement was reached to implement an investment project in Kurzeme worth 80 million euros, reported the Latvian Investment and Development Agency (LAIR).
More detailed information about the project is being kept secret by the agency; however, it notes that the development of military production capacities is planned.
According to LAIR, American entrepreneurs have shown great interest in dual-use technologies, as well as in the energy sector and green innovations. In Liepaja, the implementation of the SIA "Norsaf" project for the production of aviation fuel is ongoing, within which the production of environmentally friendly fuel is being developed using American technologies.
In addition, Latvian defense industry enterprises, such as the unmanned aerial vehicle manufacturer "Edge Autonomy" and the developer of injury simulation solutions for military training "Exonicus," continue to expand their activities in the U.S. market.
It should be noted that from October 13 to 17, about 50 representatives of Latvian companies participated in a trade mission in Washington, D.C. (USA).
According to LAIR, the export of Latvian goods and services to the U.S. in 2024 amounted to 991.5 million euros, which is 3% more than in 2023. From now on, this export will be subject to a 15% tariff imposed by Trump on products from EU countries.
The volume of accumulated direct U.S. investments in Latvia in 2025 is estimated at only 392 million euros.
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