Latvian companies launch new cooperation projects in technology, defence and green transformation sectors during official visit to Sweden

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RIGA, Latvia, May 14, 2026 /PRNewswire/ -- The official visit to Sweden organised by the Investment and Development Agency of Latvia (LIAA) and led by Minister of Economics Viktors Valainis has concluded. During two days in Stockholm, Latvian companies met with Swedish businesses, investors and institutions to explore new cooperation opportunities in defence, digital technologies, green transformation, sustainable construction and advanced manufacturing.

"Sweden is one of Latvia's most important economic partners and the largest investor in our economy. This visit was an important opportunity to strengthen long-term economic cooperation between our countries. Meetings with internationally significant companies such as Amazon Web Services and Saab were particularly valuable, especially in discussions on digital infrastructure, defence industries and high technologies. Latvia's economic growth is closely linked to exports, investment and the international competitiveness of our companies," said Minister of Economics Viktors Valainis.

The Latvia–Sweden Business Forum in Stockholm brought together more than 200 representatives from companies and institutions from both countries, including more than 130 participants from Latvia. The forum was opened by Minister Valainis and State Secretary to the Minister for International Development Cooperation and Foreign Trade of Sweden Diana Janse. The event was organised in cooperation with Business Sweden, the Embassy of Sweden in Riga and the Embassy of Latvia in Sweden.

In 2025, total trade turnover in goods and services between Latvia and Sweden reached EUR 2.6 billion, making Sweden Latvia's fifth-largest trading partner. Sweden is also the largest foreign investor in Latvia, with accumulated investments exceeding EUR 7.7 billion.

"Sweden is proud to be the largest investor in Latvia, with more than 500 Swedish companies operating across nearly all sectors of the Latvian economy. Through trade and investment, we are not only strengthening economic growth but also reinforcing our shared resilience and security," said Diana Janse, State Secretary to the Minister for International Development Cooperation and Foreign Trade of Sweden.

During the visit, the delegation participated in more than 130 individual B2B meetings, an investor forum at Nasdaq Stockholm, and a series of meetings with Swedish companies and investors. The delegation also met with Stockholm Mayor Karin Wanngård to discuss innovation, sustainable urban development and investment cooperation. "We saw strong interest from Swedish companies and investors in Latvia and in the capabilities of Latvian businesses. The business forum, B2B meetings and investor discussions created concrete opportunities for cooperation in high value-added industries," said LIAA Director General Ieva Jāgere.

The Latvian delegation included companies and organisations from defence, construction, technology, energy, finance, metalworking, engineering, logistics and food production sectors, including Latvijas Mobilais Telefons, HansaMatrix, Ammunity, UPB, PRIMEKSS, Citadele Bank, Latvenergo and others.

The visit was organised within the framework of the EU co-funded SME Innovative Business Development Programme with support from the European Regional Development Fund and the Latvian state.

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