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Latvia reveals main economic indicators of bilateral cooperation with Georgia

Business Materials 8 May 2021 15:40 (UTC +04:00)
Latvia reveals main economic indicators of bilateral cooperation with Georgia

BAKU, Azerbaijan, May 8

By Tamilla Mammadova – Trend:

There were 76 companies with Georgian investment in share capital listed in the Register of Enterprises of the Republic of Latvia in February 2021, with 4.52 million euros ranking 43rd in terms of the total amount of investments, the Ministry of Foreign Affairs of the Republic of Latvia told Trend.

As the ministry added, Georgia is an important economic cooperation partner Latvia.

"Regrettably last year, because of the COVID-19 pandemic, volumes of mutual trade between the two countries decreased," the ministry said.

According to the source, in 2020, total foreign trade in goods with Georgia decreased by 33.7 percent compared to 2019, amounting to 33.23 million euros. In 2020, total exports of goods from Latvia to Georgia were 26.41 million euros, which is 39 percent lower than in 2019, while imports of goods amounted to 6.82 million euros, which is an increase of 5 percent compared to 2019.

"Georgia’s net direct investment stocks in Latvia at the end of the 3rd quarter amounted to 6 million euros, the same as at the end of 2019. Latvia’s net direct investment stocks held in Georgia at the end of the 3rd quarter amounted to 4 million euros, the same as at the end of 2019," the ministry added.

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