Azerbaijan, Latvia to expand economic cooperation
By Sara Israfilbayova
Latvia and Azerbaijan are keen to expand economic cooperation. The issue was discussed at a meeting of Baku’s Ambassador to Riga Javanshir Akhundov with Azerbaijani businessmen working in this country.
The sides discussed opportunities for expanding trade ties and increasing trade turnover between the two countries.
Akhundov stressed that the political dialogue between the countries is at a high level, while noted the need for corresponding intensive growth in field of economic cooperation.
He further mentioned several important projects that could increase bilateral economic ties, including Azerbaijan's participation in the ZUBR container train project, which connects transport hubs in the Baltic, Black and Caspian regions.
In turn, Azerbaijani entrepreneurs put forward a number of proposals for the development of economic and trade relations between Latvia and Azerbaijan.
They stressed the need to open direct flights to strengthen trade relations and the importance of opening a trade house of Azerbaijan in Riga.
Earlier, Latvian Ambassador to Azerbaijan, Juris Maklakovs stressed that the trade turnover between Azerbaijan and Latvia decreased by 28.93 percent in 2016 as compared to 2015, adding that however, the volume of services rose, which indicates the availability of capacity in this area.
The trade turnover between Azerbaijan and Latvia for the first quarter of 2017 amounted to more than $350,000, according to the State Customs Committee of Azerbaijan.
Meanwhile, Speaker of Azerbaijani Parliament [Milli Majlis], Ogtay Asadov will visit Latvia next week to discuss the strengthening of parliamentary and economic relations.
Asadov is expected to hold a meeting with President of Latvia Raimonds Vejonis, Speaker of the Latvian Parliament Inara Murniece, Latvian Prime Minister Maris Kucinskis and Economy Minister Arvils Aseradens.
Priority areas of cooperation between the two countries include joint investment projects, effective use of international transportation corridors, education, agriculture, construction, tourism and health.
Latvia considers Azerbaijan an important partner in the field of transit and logistics in the South Caucasus region.
Republic of Latvia recognized the independence of Azerbaijan in 1992. Diplomatic relations between the two countries were established in 1994. The embassy of Azerbaijan, which is also the first Azerbaijani embassy in the Baltic countries, was opened in Latvia in 2005. The Latvian embassy in Azerbaijan has started its activities since 2006.
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