Latvia and relevant Ukrainian business and defense associations are deepening their cooperation in the defense industry sector. This was announced during the Latvian-Ukrainian Defense Forum 2026, which took place on March 23 in Kyiv at the premises of the Ukrainian Chamber of Commerce and Industry. The event culminated in the signing of a memorandum of understanding between the Latvian Ministry of Defense and a number of Ukrainian organizations, which provides for long-term cooperation, technology exchange, and state support for Ukrainian companies planning to enter or expand their operations in the Latvian market.
The forum was attended by government officials, diplomats, business representatives, and industry associations from both countries. The event was opened by Gennadiy Chizhikov, President of the Ukrainian Chamber of Commerce and Industry; Andris Spruds, Minister of Defense of Latvia; Serhiy Boev, Deputy Minister of Defense of Ukraine; and Andrejs Pildegovičs, Ambassador of Latvia to Ukraine. As the organizers noted, the forum was aimed not only at providing political confirmation of support for Ukraine but also at establishing practical mechanisms for cooperation between manufacturers, investors, and government institutions of the two countries.
On the Ukrainian side, the Ukrainian Council of Arms Manufacturers, the National Association of Defense Industries of Ukraine, the Federation of Employers of Ukraine, and “Technological Forces of Ukraine” joined the agreements. According to the Latvian side, the document is intended to serve as a tool for building a joint defense industry ecosystem that will combine the combat experience of Ukrainian manufacturers with Latvia’s technological and institutional potential. The Latvian Ministry of Defense emphasized that the memorandum provides for targeted state support for Ukrainian companies planning to launch or expand their operations in Latvia.
“The combat experience of the Ukrainian defense industry and Latvia’s technological potential are a powerful combination for joint development. The memorandum is not merely declarative but practical in nature and is intended to serve as a platform for creating innovative solutions that will strengthen the security of both countries and the capabilities of their armed forces,” noted Latvian Defense Minister Andris Spruds.
The Latvian Ministry of Defense also emphasized that the country aims to become a stable base for Ukrainian companies in Europe, while simultaneously developing its own industrial potential.
Gennadiy Chizhikov, President of the Ukrainian Chamber of Commerce and Industry, for his part, emphasized that deepening cooperation in the defense sector “strengthens our countries and industries.”
“The implementation of the agreements will take place with the participation of the Latvian Investment and Development Agency, as well as the Latvian Ministry of Economy and Ministry of Defense. This involves, in particular, promoting Ukrainian business in the Latvian market and supporting the development of a broader defense industry ecosystem,” he added.
The practical part of the forum included a bilateral business session and a panel discussion featuring Oleksandr Kamyshin, Advisor to the President of Ukraine on Strategic Issues; Vadym Yunyk, co-founder of Baltic Forces Hub; Ihor Fedirko, CEO of the Ukrainian Defense Industry Council; representatives of the Federation of Employers of Ukraine, Latvian business organizations, LIAA, DAIF Latvia, the Latvian Embassy in Ukraine, and private companies in the defense and technology sectors. This composition of participants indicates that the parties are striving to translate political support into concrete production, investment, and cooperation decisions.
Further confirmation of the practical nature of the visit came from the fact that the Latvian Investment and Development Agency had announced as early as the beginning of March a trade mission of Latvian defense and security companies to Kyiv for March 23–25, coinciding with the working visit of the Latvian Minister of Defense. The program included direct contacts with representatives of the Ukrainian defense sector and B2B meetings with potential partners. The forum in Kyiv thus became part of a broader effort to institutionalize Latvian-Ukrainian cooperation in the defense industry against the backdrop of the war and the growing role of this sector in the economies of European countries.
The event was organized by the Latvian Ministry of Defense, the Latvian Investment and Development Agency, and the Latvian Embassy in Ukraine, while the Ukrainian Chamber of Commerce and Industry served as a co-organizer, and the Ukraine Facility Platform acted as a partner for the forum. Given the content of the signed agreements, this is no longer merely a matter of Latvia’s political solidarity with Ukraine, but an attempt to establish a sustainable bilateral cooperation mechanism.
Interfax-Ukraine is the forum’s media partner.
The Government Office for Coordination of European and Euro-Atlantic Integration, the Ministry of Digital Transformation of Ukraine, language technology company Tilde, and the Latvian National Center for Artificial Intelligence have signed a memorandum of cooperation.
“The document establishes a framework for cooperation in the development of language models, exchange of experience, and implementation of AI tools to support Ukraine’s institutional capacity on the path to EU membership,” according to a statement from the Office of the Deputy Prime Minister for European and Euro-Atlantic Integration.
As Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Taras Kachka said during the signing, Ukraine is currently in the active phase of negotiations on accession to the European Union, and the next 24 months will be decisive.
“And right now, it is important to join forces to implement not only legislation but also tools that strengthen the institutional capacity of the state,” he added.
In his opinion, such tools include artificial intelligence technology, in particular for the translation and analysis of EU legal acts, as well as the importance of preserving the culture of the Ukrainian language and its authentic models in public documentation related to European integration.
“The language technology company Tilde was chosen as the most suitable solution for Ukrainian needs, as this platform takes into account the peculiarities of the Ukrainian language, its phraseology, morphology, and stylistics, which ensures the authenticity of translations. This solution will also allow for further scaling of the technology to involve other ministries, state bodies, and enterprises. The cooperation provides for the exchange of experience between experts from the parties to the memorandum, the joint development of language models, and support for new digital services,” the statement said.
Ukrainian Foreign Minister Andriy Sibiga thanked Latvian Foreign Minister Baiba Braže, who is visiting Kyiv, for additional energy support for Ukrainians.
“Special attention was paid to supporting the energy system, especially on the eve of winter. The Russian Federation’s attacks have caused significant damage, so such support is critically important. We are grateful for the additional decisions made by our friends to support our energy stability,” he said at a press conference with his Latvian counterpart Baiba Braže in Kyiv on Thursday.
According to the press service of the Ukrainian Foreign Ministry, the Ukrainian side is grateful for Latvia’s additional contribution of EUR 125,000, which will contribute to the restoration of energy facilities, uninterrupted power supply, and stabilization of the energy system.
Sybiga also expressed gratitude to Latvia for its comprehensive support of Ukraine from the first days of the full-scale invasion, in particular for its annual defense assistance amounting to 0.25% of Latvia’s GDP. In total, its volume has already exceeded 1.6% of Latvia’s GDP.
“This includes weapons, ammunition, training of military personnel, and financial support. We are also grateful to Latvia for joining the PURL and for the recent transfer of 42 PATRIA 6×6 armored personnel carriers,” the foreign minister added.
The minister thanked his colleague for rebuilding critical and civil infrastructure in the Chernihiv region and for providing recreation in Latvia for children from the Ukrainian region. The ministers discussed the implementation of this year’s projects in the Chernihiv region, totaling EUR 5.7 million, as well as prospects and priorities for next year.
“Yesterday, you opened two facilities in Chernihiv that were rebuilt with Latvian funds: the pediatric wing of the Chernihiv Central District Hospital and the Human Rights Protection Center. We greatly appreciate these efforts,” Sibiga said.
The overwhelming majority of Ukrainians have a positive attitude towards Latvia, which indicates a consistently high level of sympathy for this country. These are the results of a sociological survey conducted by Active Group in collaboration with the Experts Club analytical center.
According to the results, 72.7% of respondents rated Latvia positively (41.0% — completely positive, 31.7% — mostly positive). A neutral attitude was expressed by 21.3% of respondents, while only 5.3% declared a negative position (2.3% — completely negative, 3.0% — mostly negative). Only 0.7% of respondents said they had no information about this country.
“The survey results show an extremely high level of trust and sympathy among Ukrainians towards Latvia. This country is perceived not only as a political ally, but also as a partner that consistently supports Ukraine in the international arena,” said Alexander Pozniy, head of Active Group.
In turn, Maksim Urakin, co-founder of Experts Club, drew attention to the economic indicators of bilateral trade.
“According to the results of the first six months of 2025, trade turnover between Ukraine and Latvia reached $263.9 million. Ukrainian exports amounted to $154.2 million, while imports amounted to $109.7 million.
The positive balance amounted to more than $44.5 million, which favorably distinguishes Latvia among Ukraine’s other trading partners in the EU,” the expert emphasized.
Thus, Ukraine and Latvia not only maintain a high level of mutual sympathy, but also demonstrate balanced and mutually beneficial trade and economic cooperation.
The full video can be viewed at: https://www.youtube.com/watch?v=YgC9TPnMoMI&t
You can subscribe to the Experts Club YouTube channel here: https://www.youtube.com/@ExpertsClub
ACTIVE GROUP, BALTIC STATES, EXPERTS CLUB, LATVIA, Pozniy, SOCIOLOGY, TRADE, UKRAINE, УРАКИН
The President of Ukraine, Volodymyr Zelenskyy, accepted credentials from the newly appointed ambassadors of Cyprus, Michalis Firillas, Latvia, Andrejs Pildegovičs, and Pakistan, Kanwar Adnan Ahmed Khan, according to the press service.
“Volodymyr Zelenskyy and Michalis Firillas discussed increasing sanctions pressure on Russia, food security, joint projects within the European Union, the security situation in the region, and cooperation with partners, particularly in multilateral formats,” the statement said.
In addition, Zelensky and the Cypriot ambassador discussed Ukraine’s future membership in the European Union and priorities during Cyprus’ presidency of the Council of the European Union in the first half of 2026.
The president also discussed with Pildegovičs the development of the PURL initiative, increasing pressure on Russia, and humanitarian aid. The ambassador assured that Latvia would actively promote Ukraine’s interests at the UN next year when the country becomes a non-permanent member of the organization.
Zelensky discussed with the Pakistani ambassador the development of bilateral cooperation, particularly in the defense and military-technical spheres, as well as partnership in trade and food.
A sharp drop in the Euribor interbank rate by 0.25 percentage points in June 2024 and subsequent easing reduced the cost of mortgage lending. This brought buyers back to the market, especially large families and investors.
After the winter slump, an unexpected surge in transactions was observed in January: the number of available properties fell by more than a third, and some market segments experienced shortages. This signaled a recovery in demand.
New changes in legislation have eased refinancing conditions, with a number of fees abolished and commission thresholds reduced. This has encouraged homeowners who are willing to change their loan terms.
Renting a home to avoid extreme risks is becoming a lifestyle choice—renting is no longer just a temporary measure, but a full-fledged alternative to buying. Cafes, coworking spaces, and city services have moved renting into a new category.
Latvians continue to invest in housing abroad, especially in Southern Europe, and foreign investors are attracted by the growing rental market – but government regulation has already restricted short-term rentals in some countries.
There is active construction of rental housing (ALTUM projects) in the regions. However, housing shortages in cities such as Ventspils, Cesis, and Jurmala remain a problem.
According to estimates, average housing price growth rates in Latvia are expected to be in the range of 3-7% by the end of the year. For example, a 60 m² apartment in Riga for €150,000 could rise in price to €154,500-160,500.
Breakdown by property type:
Property type Growth forecast
Studio (30 m², €75,000) to €77,250-80,250
Apartment (75 m², €200,000) to €206,000-214,000
Penthouse (100 m², €500,000) up to €515,000-535,000
Where the highest price growth is expected
