Latvia's largest trade mission to the US begins with Minister's Houston visit

On 16 September, Latvia's trade mission to the US commenced, comprising approximately 100 business delegates. The first destination is Houston, where the Minister of Economics, Viktors Valainis, entrepreneurs, and representatives from the Investment and Development Agency of Latvia (LIAA) are meeting with key energy sector companies and potential investors. The mission will proceed to San Francisco, where the President of Latvia, Edgars Rinkevics, will join the delegation and conclude in Denver on 24 September.

"We are beginning our visit to the US in Houston, a key hub for many of the world's leading energy companies. This year, Houston is hosting Gastech, the largest international energy exhibition and conference, expected to attract approximately 50,000 participants. During and outside the conference, I have several meetings planned with Latvian businesses to discuss and agree on cooperation with local companies," stated Viktors Valainis, Minister of Economics.

One of the visit's objectives is to strengthen Latvia's energy independence by developing new partnerships. Given the increasing global demand for green energy, Latvia is well-positioned to contribute. Latvenergo, the country's leading energy provider, already generates 78% of its total energy portfolio from renewable sources, underscoring Latvia's commitment to sustainable energy solutions.

"Houston, as the fourth largest city in the US and a key center for energy and logistics, presents significant opportunities for collaboration. In our meetings with local partners, we will propose joint initiatives in green energy, including projects focused on producing aviation fuel from CO₂ emissions. Additionally, there is potential for cooperation in freight transportation, including military logistics, which is why representatives from the ports of Ventspils, Riga, and Liepaja are also part of this delegation," explained Raivis Bremsmits, Director General of LIAA.

On the first day of the visit, a Memorandum of Understanding will be signed between KBR, one of the leading US companies in design engineering solutions, and GI Terminal, a company within the Liepaja Special Economic Zone. Under the agreement, KBR will provide proprietary engineering solutions and equipment for developing a new sustainable aviation fuel (SAF) production facility with a projected capacity of up to 100 kilotonnes per year. The aviation fuel is expected to be produced using CO₂emissions and hydrogen. The partnership will also include consultancy services and additional support.

Latvia's current export trade balance with the US is under €1 billion, with services comprising approximately 50 percent of the total. This contrasts significantly with Latvia's overall export structure, where goods account for around 70 percent of exports. In this trade mission, 80 percent of the participating companies are service exporters, representing sectors such as data storage, IT services, financial technology, logistics, AI solutions, etc.

Following Houston, the trade mission will continue to San Francisco, the leading technology hub of the US, where meetings are scheduled with major companies such as Meta, Google, Microsoft, OpenAI, and others. Several Latvian technology companies will leverage the visit to engage with potential partners and explore investment opportunities. One key objective is collaborating with US corporations to develop an AI Centre of Excellence in Latvia. Additionally, start-up meetings with prospective investors will be organized. Evalds Urtans, founder of Asya and one of the Latvian delegation participants, emphasized that US technology companies and investment funds could advance Latvia's AI sector. "Adopting flexible regulations in this sector could offer Latvia a significant competitive advantage in its collaboration with the US," said Evalds Urtans.

In Denver, companies will participate in one-on-one meetings, providing an opportunity to engage directly with potential partners. Delegates will also have the chance to learn from SAF Tehnika's experience in the US market and meet with local business organizations and representatives of the Latvian community in Denver. Additionally, several companies may finalize cooperation agreements, the groundwork for which started before the trade mission.

Companies and organisations participating in the trade mission include: Latvenergo; LMT; TET; TestDevLab; Asya; JEFF; RixTechnologies; SWH Sets; Freeport of Riga Authority; Liepaja Special Economic Zone; Freeport of Ventspils Authority; Fokker Next Gen; Codnity Dev; Delta Green Line EU; PrintyMed; Salaspils Siltums; AJ Power Holding; Liepājas enerģija; Siltumelektroprojekts; Rigas Siltums; GRINDEKS; Olpha; Latvian Chamber of Commerce and Industry; Kurzemes Zvejniecības Ražotāju Organizācija; Latgale Planning Region; RTU; SAF Tehnika; Handwave; Delta Green Line EU; BATWATEX; Moon Inc; Orbit8; Goldingen G.B.; Hyper; Abillio; Sehaci; Risk Focus LV; UPCODE; Computer Science Center; Latvian State Radio and Television Center; APPLY; Pelegrin; Helve; Ax Group; AD VERBUM; Liepaja Special Economic Zone SIA; GI Terminal; Riga Chair Factory; AmberBirch.