BAKU, Azerbaijan, March 8. The Latvian Investment and Development Agency and Azerbaijan’s AZPROMO (Export and Investment Promotion Agency) will sign a memorandum of understanding (MoU), President of the Republic of Latvia Egils Levits said during a round table attended by the countries’ business representatives in Baku, Trend reports.
"This will serve as a legal basis for the development of our trade relations. This document will create more opportunities for Latvian companies in Azerbaijan and for Azerbaijani companies in Latvia," Levits said.
According to him, Latvia is also interested in cooperation in the field of transport and logistics, as the country is a growing economy in northern Europe.
In 2022, the total value of export from Azerbaijan to Latvia amounted to $27.6 million, and import from Latvia to Azerbaijan - $18.7 million.