SAPRA Participates in Defence Industry Advisory Council Meeting on Sector Support Mechanisms

SAPRA - the International Association of Defence Product Manufacturers - participated in the latest meeting of Latvia’s Defence Industry Advisory Council, which focused on current sector developments and support mechanisms for the defence industry.

The meeting took place at the Ministry of Defence on 9 September and was chaired by Minister of Defence Raivis Melnis.

One of the principal topics was the role of banks in financing the defence industry. Participants discussed access to financing, the main challenges faced by the sector and practical steps that could help make defence industry projects more suitable for investment and financing.

The Council also discussed the need for a European-level fund that could support the development of innovative technologies, strengthen supply chains and contribute to Europe’s strategic autonomy.

Minister of Defence Raivis Melnis invited companies to submit Latvian-made military products and technologies, as well as relevant components, subsystems and other elements, for inclusion in Latvia’s defence industry military product catalogue supporting Ukraine.

Participants also addressed other current industry matters, including upcoming defence industry events.

The Defence Industry Advisory Council facilitates the exchange of information, recommendations and proposals between public institutions, industry organisations and other stakeholders. It also supports defence industry initiatives and contributes to the implementation of Latvia’s defence industry strategy.

SAPRA continues to represent the interests of defence product manufacturers and contribute to dialogue on practical support mechanisms, access to financing, innovation and the competitiveness of Latvia’s defence industry.