BAKU, Azerbaijan, October 24. On October 22–23, 2025, during one of Europe’s largest technology forums — Techritory 2025 — Latvian Minister of Foreign Affairs Baiba Braže met with European Commission Vice President Henna Virkkunen, Executive Vice President for Technological Sovereignty, Security, and Democracy, to discuss ways to strengthen the European Union’s global competitiveness and to make better use of its technological potential, Trend reports.
Vice President Virkkunen praised Latvia’s outstanding achievements in innovation, 5G/6G development, drone technology, artificial intelligence, and quantum research. Both officials agreed that faster reforms are needed to make the EU less bureaucratic, more efficient, and more attractive to entrepreneurs, scientists, and investors. Virkkunen emphasized that simplifying regulations and reducing administrative burdens must be done both at the EU and national levels.
The two officials highlighted that reforms are particularly vital for small and medium-sized enterprises (SMEs) — especially startups and innovation-driven companies whose ecosystems evolve rapidly and depend on risk capital and bold decision-making. SMEs make up the majority of businesses in the European Union.
Minister Braže stressed the need to streamline and simplify public procurement procedures.
“Currently, procurement processes are disproportionately time-consuming and bureaucratic. This is confirmed by the experience of several Latvian companies that have successfully secured EU funding through tenders. Just as in the context of developing the EU defense industry, we must find solutions to make procurements faster, more centralized, and resource-efficient — saving time, financial, and human resources,” she said.
She also underlined the importance of accelerating innovation commercialization — transferring scientific discoveries into the business sector.
“Too often, this process happens outside Europe,” Braže noted, emphasizing that Europe must retain its talent and innovative startups.
During her visit, Vice President Virkkunen met with representatives of Riga Technical University, toured the Optical Fiber and Transmission Systems Laboratory, and visited the Science and Innovation Center to engage with researchers.
The Techritory 2025 Forum gathered a wide range of high-level participants, including OECD Secretary-General Mathias Cormann, NATO Deputy Secretary General for Cybersecurity and Digital Transformation Jean Charles Ellermann-Kingombe, and World Government Summit Managing Director Mohamed Alsharhan, among others.
Now in its eighth year, the Techritory Forum continues to bring together global experts, entrepreneurs, policymakers, academics, and industry leaders to advance innovation and digital development across Europe and beyond.