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Foreign ministers

Latvia Hosts Annual Economy-Focused Training Workshop for Diplomats

Strategic Insights

— 1 min read

The Ministry of Foreign Affairs of Latvia is hosting its annual economy-focused training workshop for Latvian diplomats stationed abroad, emphasizing the country's growing focus on economic diplomacy, foreign investment attraction, and export development. The workshop is being held in close cooperation with the Investment and Development Agency of Latvia (LIAA) and features a matchmaking event where Latvian diplomats and LIAA experts will offer individual consultations to businesses on export opportunities and investment support. The event also includes a tour of leading companies in the Zemgale region, providing firsthand insight into Latvia's industrial innovation.

Key Takeaways:

  • The workshop is the first time that Latvian diplomats responsible for economic affairs are directly engaging in joint sessions with LIAA representatives and businesses.
  • The event aims to foster strong cooperation between diplomatic missions and LIAA to support Latvian enterprises, facilitate exports, and position Latvia as a competitive, stable, and innovative partner in the global economy.
  • Latvia has seen a 50 percent increase in foreign direct investment projects in 2024, with 33 new projects, compared to 2023.
  • The country is leading the Baltic region in foreign direct investment, according to the EY European Attractiveness Survey 2025.
  • The Foreign Investors Council in Latvia (FICIL) has noted a marked improvement in the country's investment climate, with a score of 3 (on a 5-point scale) in its latest Sentiment Index.
  • Defense sector representatives stressed the importance of cross-sector cooperation to build production capacities and integrate innovation into the national industrial landscape.
  • Representatives from nearly 100 companies have registered to receive expert guidance at the matchmaking event.

Statistics:

  • 33 new foreign investment projects in Latvia in 2024, a 50 percent increase compared to 2023.
  • 17 countries represented by LIAA staff attending the workshop.
  • 31 countries with diplomats in attendance, including the U.S., U.K., Germany, Japan, Uzbekistan, and Azerbaijan.
  • 100 companies registered to receive expert guidance at the matchmaking event.
  • Latvia's score rose from 1.9 to 3 (on a 5-point scale) in the FICIL Sentiment Index.

Sources:

  • Ministry of Foreign Affairs of the Republic of Latvia
  • Investment and Development Agency of Latvia (LIAA)
  • EY European Attractiveness Survey 2025
  • Foreign Investors Council in Latvia (FICIL) Sentiment Index

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