“Such a large business delegation has never traveled to the USA before. I am confident that during this visit, we will succeed in attracting investments of at least 1 billion euros, which will have a noticeable impact on the Latvian economy within the next 3 to 5 years. I also believe that, largely due to this visit, Latvian exports to the USA will double within that timeframe,” Valainis said during the introductory event – bold predictions that many will no doubt note for future reference.
According to LIAA the goal of the trade mission is to create conditions for developing economic relations with the USA – to double trade relations within five years, reaching a turnover of 1.9 billion euros. Companies participating in the visit are also expected to increase their trade turnover with the USA by 15% within a year. In terms of investments, the mission seeks to identify at least three new investment projects with a total potential value of up to 150 million euros.
“The USA is, in a way, an untapped opportunity as we trade more with our neighbors and EU countries. However, we see that the service industries are growing dynamically in Latvia’s exports, and they have good prospects in the USA market, as services are less affected by logistics costs. I am pleased that around 80% of the participants in the trade mission, whose total turnover is about 2 billion euros, represent the service industries,” said Director General of LIAA Raivis Bremsmits.
The visit will take place in three cities in the USA: Houston, San Francisco and Denver.
Companies and organizations that have registered for the visit 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.
