As a result of this cooperation, Latvia will have a stand at the aptly-named "Token 2049" conference, which will take place in mid-April in Dubai.
"In preparation for the "Token2049" conference, both organizations are developing a joint presentation on Latvia's advantages and offerings for blockchain, financial technology, and WEB 3.0 industry companies. This will be the first conference of its kind where Latvia will have a coordinated and unified sales pitch, done by the industry and the public sector representatives," said the release.
They will need to get their pitch together in pretty swift fashion as the conference takes place April 18-19.
"The cooperation initiated by the Ministry of Economics and the Latvian Blockchain Association (LBAA) is a significant step to promote the opportunities of Latvian companies in the international blockchain, financial technology, and WEB 3.0 market. At the same time, Latvia is demonstrating its commitment to being at the center of global attention in blockchain and financial technology, which has the potential to contribute to the long-term development of our country's economy and technology sectors," said comments attributed to Minister of Economics Viktors Valainis.
"We are very pleased to have the opportunity to create the first unified Latvian offering for the international WEB 3.0 market together with the Ministry of Economics. 2024 is an important milestone as the European Commission's regulation on crypto assets will come into effect. This means that leading companies in the industry are currently looking for countries to align their future ambitions with. The fact that Latvia's offering is developed and represented at the conference by both the public sector and industry representatives is a big plus. The interest and good cooperation between the state and local industry professionals are factors that blockchain and financial technology companies consider to be very important when choosing a country to potentially develop their business," said LBAA Executive Director Reinis Znotiņš.
LSM asked how much Latvia's booth at the event would cost and was told:
"Overall, the investments are still being finalized but they are in the range 10,000-15,000 EUR, out of which 5000 EUR is contributed by LBAA. The goal of the mission is to add new WEB 3.0. companies and tax paying entities to the Latvian business ecosystem in 2024."
The Dubai conference is not for the weak of wallet with ticket prices ranging from 199 dollars for a standard entrance ticket to 699 dollars for a VIP ticket. Alternatively there are packages such as 'Crypto Geeks' (1,600 dollars) and Crypto whales (2,500 dollars) if your digital assets are doing particularly well at the moment.
Cited attractions include the opportunity to "Meet globally renowned influencers and leading voices across blockchain and AI at the Gen Z Stage" and the chance to "Have a drink and unwind with hundreds of top names in blockchain and AI surrounded by beautiful peacocks!"
Sponsors of the event include many crypto and blockchain companies – including one 'Gold Sponsor' selling a product called 'MAGA TRUMP' that is "dedicated to supporting presidential candidate Donald Trump".
