Latvia would welcome investments from Azerbaijan in ports and logistics centres, Minister of Foreign Affairs of the Republic of Latvia Edgars Rinkēvičs said in an exclusive interview with Trend.
Noting that Latvian companies are working in Azerbaijan’s market in transport and logistics, engineering, IT and telecommunications, architecture, tourism and education sectors, the foreign minister said Latvia is interested in expanding this cooperation.
"In 2018, Azerbaijan opened its Trade House in Riga seeking to build stronger economic cooperation with Latvia. Azerbaijani companies have shown an interest in developing contacts with Latvia in the food, pharmaceutical, environmental, agricultural and industrial sectors. Latvia would welcome investments from Azerbaijan in ports and logistics centres. This April, we look ahead to hosting a business delegation from Azerbaijan. Hopefully, this visit will contribute to boosting our economic exchanges," said Rinkēvičs.
He went on to add that investment in small and medium-sized business would bring a lot of benefit to economic relations between Latvia and Azerbaijan.
"We already have examples of successful investment in the areas such as wholesale trade, transportation and consulting. Latvia is interested in increasing mutually beneficial investments," added the Latvian foreign minister.
Further, Rinkēvičs said that in 2018, Latvia and Azerbaijan trade turnover (19.84 million euros) increased for more than 20 percent year-on-year.
"Latvian exports to Azerbaijan include food products, construction and building materials, wood products, chemicals, pharmaceuticals. Latvian entrepreneurs are interested in exploring new export markets. We are confident that more Latvian products ranging from electronic equipment to cosmetics will be delivered to Azerbaijan in the coming years," he added.
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