Shorouk Express
BAKU, Azerbaijan, August 15. Latvia has
reaffirmed its commitment to deepening economic cooperation with
Israel, focusing on innovation-driven sectors such as defense
technologies, green energy, and precision medicine, the Ministry of
Economics of Latvia told Trend.
According to the ministry, the Latvia–Israel Business Forum,
organized in cooperation with the Israel Export Institute, aimed to
strengthen bilateral economic relations, promote joint projects in
high-tech industries, and position Latvia as a strategic entry
point for Israeli companies into the EU market.
“The forum successfully facilitated direct contacts between
Latvian and Israeli businesses, resulting in several cooperation
memorandums, and generated concrete leads in sectors including
photonics, precision medicine, green ammonia production, and
semiconductor technologies,” the ministry noted.
A memorandum signed with the Israel Export Institute focuses on
promoting trade and investment, organizing B2B matchmaking, and
fostering cooperation in defense tech, renewable energy, and
advanced manufacturing. Other agreements with Israeli business
associations and technology clusters target knowledge transfer,
joint product development, and faster commercialization of research
results.
The ministry also noted that Latvia offers a comprehensive
support package for Israeli startups and investors, including
fast-track company registration, tax incentives under Latvia’s
Startup Law, and assistance with employee relocation. Israeli
companies are also encouraged to use Latvia as a base for EU market
tenders, R&D facilities, and “testbed” environments for
innovative technologies.
Priority sectors for future Latvian–Israeli cooperation include
photonics, semiconductors, unmanned aerial systems, counter-drone
solutions, hydrogen and green ammonia production, AI-based
healthcare, and sustainable agri-tech solutions.
“These areas combine Latvia’s EU market advantages with Israel’s
innovation capacity, creating significant potential for mutually
beneficial projects,” the ministry concluded.
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