BAKU, Azerbaijan, March 4. The LEF network Azerbaijan project will conclude this year, but cooperation between Azerbaijan, Latvia, Estonia, and Finland may continue in a new format, Līga Sičeva, Director of the EU Projects Department of the Latvian Chamber of Commerce and Industry, said in an interview with Trend.
Speaking during the B2B forum focused on the development of business relations between Azerbaijan, Latvia, Estonia, and Finland, Sičeva noted that the LEF network Azerbaijan project has actively contributed to the development of cooperation between companies, but it will conclude by the end of this year.
"We are continuing to support companies interested in establishing contacts and cooperation between Azerbaijan, Latvia, Estonia, and Finland. As part of the project, two trade missions to the Central Baltic countries are planned for this year. Additionally, a trade mission from the Baltic countries to Azerbaijan will be organized in October," Sičeva noted.
She emphasized that after the completion of the LEF network Azerbaijan project, plans are in place to continue cooperation with business organizations in Azerbaijan and the Caspian Energy Club.
"We are also aiming to sign various memoranda of cooperation and are ready to continue working together—perhaps in a different format, but maintaining the connection between Azerbaijan, Latvia, Estonia, and Finland. This is crucial for business," she added.
According to Sičeva, businesses from the Baltic countries see great potential in Azerbaijan. Shared historical and cultural elements bring people together, while cultural differences offer new opportunities for cooperation.
"For example, companies coming to Azerbaijan are ready to support local businesses in entering the European market, organize necessary certifications, or provide IT solutions," she stressed.
Sičeva also highlighted that the LEF network Azerbaijan project has received substantial support in Azerbaijan, including from organizations such as the Caspian Energy Club, AZPROMO, KOBIA, and the German-Azerbaijani Chamber of Commerce.
To note, Baku hosts a B2B forum aimed at developing business ties between Azerbaijan, Latvia, Estonia and Finland. The event is held within the framework of the LEF Network Azerbaijan project with the organizational support of the Caspian Energy Club. The project began in March 2023, with a duration of 36 months and a budget of 1.26 million euros.
The LEF Network Project Azerbaijan aims to enhance regional innovations and the bio-economy by exporting services, expertise, and products to the country. At present, it seeks to establish 10 sales agreements within 36 months between mature SMEs from Finland, Estonia, Latvia, and Azerbaijan. According to limited research, the sectors with aligned demand and supply include ICT, green technologies, higher and lifelong education, as well as interior design services and goods.
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