BAKU, Azerbaijan, March 8. The value of trade between Azerbaijan and Latvia increased by more than 70 percent and amounted to $46 million in 2022, Chairman of Azerbaijan's AZPROMO (Export and Investment Promotion Agency) Yusif Abdullayev said during a round table attended by the countries’ business representatives in Baku, Trend reports.
"Exports to Latvia almost tripled and amounted to $28 million. Almost 98 percent of our exports to Latvia came from the non-oil sector, which means that Latvia is the most important country in northeastern Europe in terms of imports of non-oil products," he noted.
Abdullayev noted that from 1995 to October 2022 Latvia invested $151 million in the Azerbaijani economy, while Azerbaijan invested $166 million in Latvia.
"As of February 1, 2023, 59 commercial structures with Latvian capital are operating in Azerbaijan and 46 of them are active. There are great opportunities for investment in Karabakh. We would be glad to see Latvian companies in these territories as contractors and investors," he said.