BAKU, Azerbaijan, June 10. Latvia provides tools and support mechanisms to its companies planning to enter the Turkmen market, a source in the Ministry of Economics of Latvia told Trend.
The Ministry representative noted that the SME (Small and Medium-sized Enterprises) Innovation Support Program provides assistance for promoting exports of goods from Latvian companies to Turkmenistan, totaling 28.9 million euros.
"The program provides financial support for SMEs and associations/institutions to promote exports, with a total support amount of 28.9 million euros. Companies participating in this program can receive grants of up to 200,000 euros," the source said.
At the same time, it was noted that these grants are likely intended as financial support for companies to develop and enhance their export activities.
"The Investment and Development Agency of Latvia (LIAA) also offers non-financial support, such as trade fairs and trade missions, to assist companies in promoting their export goals. Projects were initiated in November 2023, and during this time, the acceptance of projects has begun. This indicates that companies could already submit their projects under this program," the representative added.
Meanwhile, Deputy Minister of Foreign Affairs of Turkmenistan Ahmet Gurbanov recently met with Ambassador Extraordinary and Plenipotentiary of the Republic of Latvia to Turkmenistan (with residence in Tashkent) Reinis Trokša.
During the talks, the parties reviewed the current state and prospects for further development of cooperation between Turkmenistan and Latvia in the political, trade, economic, cultural, and humanitarian fields, as well as exchanged views on a number of topical issues on the international agenda.