Baku, Azerbaijan, June 20
By Anvar Mammadov – Trend:
Azerbaijan and Latvia intend to boost creation of the Business Cooperation Council, according to the protocol of the 7th meeting of Azerbaijan-Latvia intergovernmental commission on economic, scientific, technical and cultural cooperation held in Baku June 20.
The creation of the Council is aimed at supporting and encouraging cooperation between the National Confederation of Entrepreneurs (Employers’) Organizations of Azerbaijan and the Employers’ Confederation of Latvia, as well as supporting and encouraging trade and investments, according to the protocol.
Currently, the volume of trade between Azerbaijan and Latvia is less than its potential indicator, the protocol said. In this regard, the sides agreed on expanding trade turnover, encouraging investments and strengthening business cooperation, the protocol noted.
The parties agreed on permanent information exchange regarding exhibitions, conferences, seminars, business forums and other similar events to be held in Azerbaijan and Latvia, according to the protocol.
The parties also agreed to facilitate the participation of the relevant state structures of Latvia in twinning projects conducted in Azerbaijan by the European Union.
It was agreed to encourage the participation of Latvian companies specializing in the fields of mechanical engineering and pharmaceuticals, the projects, which are being implemented in the Sumgait Chemical Industrial Park and Pirallahi Industrial Park in Azerbaijan.
It was also agreed to ensure that the products of the Azerbaijani industrial parks enter the Latvian market.
The protocol also noted that Latvia supports the accession of Azerbaijan to the World Trade Organization (WTO) and is ready to ensure Azerbaijan’s entering the improved market of various goods and services.
Azerbaijan also informed Latvia about the inadmissibility of activity of the country’s companies in Azerbaijan’s occupied territories, adding that the import, export and sale of products and services on these territories are unacceptable.
In turn, the Latvian side assured Azerbaijan that it would not allow products manufactured in Azerbaijan’s occupied territories to enter Latvia without proper certificates of origin from the relevant state bodies of Azerbaijan.
It should be noted that the next meeting of Azerbaijan-Latvia intergovernmental commission on economic, scientific, technical and cultural cooperation will be held in Latvia.