Baku, Azerbaijan, June 20
By Anvar Mammadov – Trend:
It is necessary to bring the trade turnover between Azerbaijan and Latvia to a higher level, said Huseyngulu Bagirov, Azerbaijan’s minister of ecology and natural resources.
Bagirov, who is also a co-chairman of Latvia-Azerbaijan intergovernmental commission on economic, scientific, technical and cultural cooperation, made the remarks at the commission’s meeting in Baku June 20.
The minister noted that the current level of trade turnover between the two countries doesn’t correspond to the high level of bilateral relations.
As of late 2016, trade turnover between Azerbaijan and Latvia totaled $8.75 million, he said.
The co-chairman noted that the import of Latvian products accounted for $7.9 million out of this amount, while the export of Azerbaijani goods accounted for $0.85 million.
“This is an unsatisfactory indicator and is a signal that it needs to be increased,” added Baghirov.
According to Azerbaijan’s State Customs Committee, the country’s trade turnover with Latvia amounted to $3.72 million in January-May 2017 that is by 11.5 percent more than in the same period of 2016.
Meanwhile, the export of Azerbaijani goods to Latvia rose by 16 percent during the year and amounted to $312,010 and the import of the Latvian products increased by 11.1 percent – up to $3.4 million.