Ex-president: Latvia, Azerbaijan have huge potential to develop economic co-op (Exclusive)

Business Materials 11 March 2019 14:02 (UTC +04:00)

Baku, Azerbaijan, Mar. 11

By Rashid Shirinov – Trend:

Azerbaijan and Latvia have a huge potential for the further development of economic cooperation, Vaira Vike-Freiberga, former President of Latvia, Co-Chair of the Nizami Ganjavi International Center, told Trend.

“Azerbaijan is an important partner of Latvia in the South Caucasus. In June 2017 Latvia and Azerbaijan signed a declaration on strategic partnership, thereby raising the countries' relationship to a new level of quality,” she noted.

Vike-Freiberga said that Latvia is interested in working together with Azerbaijan on land transport connections between Asia, Central Asia, the Black Sea countries and Northern Europe.

“We are glad that Azerbaijan decided to open its Trading House in Riga in 2018 to facilitate trade and economic ties with Latvia. We would be glad to see Azerbaijani fruits and vegetables in our supermarkets,” the former Latvian president noted.

She added that in April this year, an Azerbaijani business delegation will visit Latvia, aiming to increase Azerbaijan’s exports to Latvia, for which the potential is definitely there.

“We are constantly encouraging entrepreneurs to look for new export markets and hope that more Latvian products ranging from electronic equipment to cosmetics will be available for customers in Azerbaijan,” Vike-Freiberga said.

It should be noted that last year, Latvia-Azerbaijan trade turnover reached 19.84 million euro, which is an increase of more than 20 percent compared to 2017. Latvia mainly exported food products, construction and building materials, wood products, chemicals, and pharmaceuticals.


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