Latvia already has examples of successful investment from Azerbaijan in wholesale trade and in the future the country would like to attract more investors to its ports and logistic hubs, Latvia’s Ambassador to Azerbaijan Dainis Garančs told Trend.
"The Latvian companies are already doing business in Azerbaijan in fields like transport and logistics, mechanical engineering, ICT, food production, architecture, design, construction, chemical, pharmaceutical industries, tourism etc. We would like to expand this cooperation exchange. Promising area is green technologies where Latvia has well-developed expertise and knowledge. We are interested in increasing mutually beneficial investment exchanges. Investment in small and medium-sized business could bring a lot of benefit to our economic relations," said the ambassador.
Talking about bilateral trade, he noted that the main categories of goods exported from Latvia to Azerbaijan currently are food products, construction and building materials, wood products, chemicals, and pharmaceuticals.
"We are also very glad to see fruits and vegetables from Azerbaijan in our supermarkets. However, the current bilateral trade volume (7.75 MEUR in the first half of 2019) does not reflect the actual economic potential of our countries. One of the embassy’s priorities is to encourage our entrepreneurs to look for new opportunities and to facilitate further contacts between businesses," said Garančs.
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