Using the financial support of the Estonian-Latvian programme, the Institute of the Estonian language and The Latvian Language Agency have are realizing the project "Development of Estonian-Latvian and Latvian-Estonian dictionary".

Until now the society has had access to two Latvian-Estonian dictionaries: "Latvian-Estonian dictionary" (published in 1959) and "Estonian-Latvian dictionary" (published in 1967), by the same author. Currently there are no extensive Estonian and Latvian language dictionaries sufficient for the modern language, the dictionaries published in the middle of the last century are now mostly out-dated, because the language vocabulary is the quickest to react to changes in all aspects of social life.

During the December 10th, 2010 conference in Riga discussing the Latvian and Estonian Future co-operation report, which was joined by Valdis Dombrovskis, Prime Minister of the Republic of Latvia and Andrus Ansip, Prime Minister of the Republic of Estonia, a reciprocal statement was made about the co-operation between Latvian and Estonia, which indicated mobility and encouraging contact between the people as key priorities, including within education and culture, as well as co-operation between social media. One of the most important tasks of this priority scope is the development of an Estonian-Latvian and Latvian-Estonian dictionary.

For developing a new, modern, widely available dictionary conforming to the lexicography requirements, the Latvian Language Agency and the Institute of the Estonian language have raised funds from the European Union structural funds' 3rd goal "European territorial co-operation", Estonian-Latvian cross-border co-operation programme for 2007-2013. During this project, a new Estonian-Latvian and Latvian-Estonian dictionary, including an electronic version, will be developed, ensuring widest possible access to the dictionary for all those interested, therefore promoting effective co-operation in the long term, strengthening unity and an immediate flow of inter-country information between Latvia and Estonia. The project will last until April 30th, 2015.