Braze calls for more active use of EU's new trade agreements with third countries

RIGA - Latvian entrepreneurs should use the export opportunities provided by the European Union's (EU) trade agreements with third countries and the Foreign Ministry's support instruments more actively, Foreign Minister Baiba Braze (New Unity) said during a meeting with representatives of the Latvian Chamber of Commerce and Industry (LCCI).

As LETA was told at the Foreign Ministry, discussions at the meeting focused on transatlantic relations, the situation in Ukraine, the Foreign Service's capacity to support businesses in export markets, development cooperation projects, reducing trade with Russia and Belarus, as well as current issues on the EU agenda, including the bloc's multiannual budget, sanctions against Russia, trade policy, and cutting red tape.

Braze pointed out that the Foreign Service is in regular contact with Latvian companies and organizations to inform them about opportunities available, such as grants, development cooperation projects, and trade agreements, as well as to involve businesses in foreign policy activities, including consultations on Latvia's national position in negotiations on the next EU multiannual budget.

The minister stressed that exports are the backbone of Latvia's economy and that in times of global turmoil, the ability of businesses to diversify export markets and offer innovative solutions in both traditional and emerging markets is particularly important. She recalled that last year the Foreign Ministry lobbied for more favorable trade conditions for key export sectors, including the timber industry, which resulted in lower import tariffs in the US.

Braze appreciated cooperation with the LCCI so far, including on export promotion, the preparation of Latvia's national position for the EU multiannual budget, and countering Russia's attempts to circumvent sanctions. The minister also thanked the business community for the support provided to Ukraine, including help in dealing with damage to Ukraine's critical energy infrastructure caused by Russian attacks.

Discussing the geopolitical situation, Braze stressed that there are no indications that Russia is ready for peace and that the aggressor's objectives - to destroy Ukraine, divide allies, and threaten the security of the transatlantic space - remain unchanged. Russia must continue to be contained by sanctions, including against its shadow fleet, and all forms of trade with the aggressor must cease.

The minister stressed that the Foreign Ministry will continue to urge Latvian and EU businesses to stop trading with Russia and its co-aggressor Belarus, as well as to pay closer attention to export partners in third countries in order to prevent goods used in the military industry from ending up in Russia's hands.

According to data from the Customs Board and the Bank of Latvia, trade between Latvia and Russia continues to decline. In the first 11 months of 2025, imports of goods from Russia decreased by 73.5 percent compared to the same period of 2024, while exports of goods to Russia dropped by 8.7 percent year on year. Since 2021, the number of Latvian-registered companies exporting goods to Russia has decreased by 79.7 percent.