On Monday, March 23, Latvia signed a memorandum of understanding with leading Ukrainian defense industry enterprises and organizations.
This was reported by the Latvian Ministry of Defense.
The agreement aims to establish close long-term cooperation between the two countries, promote joint development of the defense industry. The memorandum provides for targeted state support for Ukrainian companies planning to start or expand their operations in Latvia.
The process will be jointly coordinated by the Investment and Development Agency, the Ministry of Economy, and the Ministry of Defense of Latvia.
The partnership aims to create a shared defense industry ecosystem that will promote technological exchange and economic growth in both countries.
“The combat experience of the Ukrainian defense industry and the technological potential of Latvia are a powerful combination. The signed memorandum is not just a formal agreement, it is a practical tool for us to jointly create innovative solutions that will strengthen the security of both countries and the capabilities of the armed forces. Latvia is becoming a stable base for Ukrainian companies in Europe, while our own industrial potential is growing,” said Latvian Defense Minister Andris Spruds.
The Ministry of Defense noted that this step is a significant addition to Latvia's previous support for Ukraine, laying the foundation for new innovations, attracting investment, and strengthening regional security potential.