Economic cooperation between Latvia and Azerbaijan has growing potential - Linkaits

  • 2020-06-10
  • LETA/TBT Staff

RIGA - Latvia and Azerbaijan need to develop bilateral cooperation, and its economic co-peration has a growing potential, Latvian Minister of Transport Talis Linkaits (New Conservative Party) emphasized in talks with the Minister of Ecology and Natural Resources of Azerbaijan Mukhtar Babayev on Wednesday.

The ministry's communications department told LETA that today a video meeting between the co-chairmen of the Latvian-Azerbaijani Intergovernmental Commission Linkaits and Babayev took place.

During the talks, Linkaits emphasized the need to develop bilateral cooperation in the economic sphere and in general, especially in the field of transport and logistics. Among other things, work should be continued on improving the legal framework between the two countries and coordinating and concluding ongoing agreements.

The minister of transport emphasized that as the trends of cargo flows change, entrepreneurs of both countries must take advantage of new opportunities and look for new formats of cooperation. Latvia is also interested in attracting investments from Azerbaijan in the transport and logistics sector, which would be beneficial for both parties. In turn, the Azerbaijani side said that it can take over from Latvia experience in the modernization of information technology (IT) systems, green technologies and so-called clean technologies.

Meanwhile Babayev, co-chair of the Azerbaijani side, emphasized that Latvia is an important economic cooperation partner for Azerbaijan and that both countries have great potential for cooperation. Although the current situation due to the Covid-19 pandemic is challenging, it has also opened up great opportunities and new trends in imports and exports.

The ministers noted that the work of the commission so far forms an important discussion platform for the development of economic cooperation between Latvia and Azerbaijan.

The previous Latvian-Azerbaijani Intergovernmental Commission meeting was held in Baku three years ago. The ministers agreed to hold the next meeting in Riga by the end of this year is the epidemiological situation allows.