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Ulviyya Poladova

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Azerbaijan and Latvia have explored opportunities to strengthen bilateral economic ties, focusing on expanding cooperation across several key sectors, the Azerbaijani Minister of Economy Mikayil Jabbarov wrote on his X page, AzerNEWS reports.

"During the meeting with Armands Krauze, Minister of Agriculture of Latvia and Co-Chairman of the Azerbaijan–Latvia Intergovernmental Commission, we underscored the prospects for economic relations between our countries," he noted.

Both sides highlighted the prospects for developing economic relations between the two countries. They also discussed opportunities to expand joint activities in trade, energy, investment, transport, and agriculture.

According to the Central Bank of Azerbaijan, Latvia’s direct investment in Azerbaijan totaled $6.945 million in 2025. This represents a decrease of $17.5 million, or 3.5 times, compared to 2024.

In the reporting year, Latvia's investments accounted for 0.1% in the total volume of foreign direct investments in Azerbaijan.