Azerbaijan sees vast opportunities for boosting trade turnover with Latvia

There are vast opportunities to boost the trade turnover between Azerbaijan and Latvia, Azerbaijan’s Deputy Economy Minister Sahib Mammadov said on Monday.

Robust exchanges and productive interactions between the presidents of Azerbaijan and Latvia have fostered bilateral strategic cooperation, Mammadov said at the Azerbaijan-Latvia Business Forum.

“We've built a strong bilateral legal framework with 45 documents signed, including the Declaration on Strategic Partnership. Further strengthening our cooperation are agreements on investment promotion, mutual protection, and double taxation avoidance,” he said.

The deputy minister pointed out that the trade turnover between the two countries amounted to $65 million in 2023.

“Azerbaijan's exports to Latvia increased by 64 percent, reaching $45 million, while imports amounted to $20 million. In the first quarter of 2024, the trade turnover amounted to $6 million,” he added.

News.Az