EU – Baltic States, Forum, Latvia, Markets and Companies

Germany, which in 2015 ranked 3rd among foreign trade partners of Latvia, is one of the major markets for Latvian engineering and metalworking products. The proportion of mechanical engineering products, electric appliances, metal products, and vehicles in total exports of Latvian goods to Germany amounts to 27 %.

There are currently more than 1,200 active enterprises with German capital in Latvia. The Latvian company with the largest German capital, EUR 30.6 million, is JSC Valmieras stikla šķiedra. Five German companies have made invested in this company.

“I am very pleased with the Latvian companies that have made significant progress through participation in the Hannover Messe,” said M. Kučinskis.

The Prime Minister stressed that the Hannover Messe has contributed significantly not only to establishing new export or investment contacts, but also to the entry of new technlogies and materials in the Latvian market. This contribution strengthens competitivenes of both individual companies and the industry as a whole.

“Participation in the fair is a great tool to build a positive image for the Latvian economy abroad. Therefore, I hope that this year the exhibition will also serve as an invaluable platform for the exchange of experiences in business, for the establishment of new business contacts and, finally, for turning ideas into real projects in immediate and more distant markets," said M. Kučinskis.

During the visit to the fair, the Prime Minister met Latvian and German entrepreneurs and visited the US stand, which is the official partner of the Hannover Messe.