Azernews.Az

By Amina Nazarli

Baku will host an event entitled "Taste of Latvia" on November 24-27, which will present the products produced in Latvia.

The event will be supported by Latvian Investment and Development Agency and feature meetings and round tables.

During the event, Latvian and Azerbaijani entrepreneurs will have an opportunity to establish business contacts. Latvian Minister of Economy Dana Reizniece-Ozola will also attend the event.

The bilateral trade between the two countries in 2014 amounted to 31 million euros, or 0.2 percent of total exports of Latvia. Azerbaijan exported to Latvia goods and services amounting to 5.4 million euros, while Latvia exported to Azerbaijan goods and services amounting to 25.6 million euros.

Latvia's main export goods to Azerbaijan are animal products, metal products, food items and chemical products, while mineral products and food products are major imports from Azerbaijan.

Latvia recognized Azerbaijan’s independence in 1992. Bilateral diplomatic relations between the two countries were established in 1994. The Azerbaijani Embassy in Latvia began to function in 2005, and the Latvian Embassy in Azerbaijan was opened a year later.

Azerbaijan attaches great importance to cooperation with Latvia within regional organizations, including the Union of the Baltic States. This cooperation is important to intensify the process of integration in the Baltic-Black Sea-Caspian region. Latvia considers Azerbaijan to be Europe’s the main source for energy resources in the Black Sea-Caspian region.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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