Azerbaijan, Latvia push to expand investment, business cooperation

Azerbaijan and Latvia have reaffirmed their commitment to expanding economic ties and boosting bilateral investment, citing strong business conditions in both countries as a key driver for deeper cooperation.

Speaking during the Azerbaijan–Latvia Business Forum held in Baku, Azerbaijan’s Minister of Agriculture Majnun Mammadov noted that the favourable business environment in both nations highlights the importance of strengthening commercial relations and increasing mutual investment, Caliber.Az reports per local media. 

Mammadov recalled that the 9th meeting of the Intergovernmental Commission on Economic, Scientific, Technical and Cultural Cooperation, held in Shusha on April 15, identified priority areas for future collaboration, including trade, agriculture, tourism, education, and cultural exchange. He also stressed the importance of cooperation in agricultural technologies, food security, and export development, noting that such partnership would be beneficial for both sides.

Latvian Minister of Agriculture Armands Krauze, in turn, emphasised the importance of strengthening bilateral relations, stating that business forums play a crucial role in connecting business communities and creating new investment opportunities while supporting long-term economic cooperation.

As part of the forum, a Memorandum of Understanding was signed between AZPROMO and the Latvian Chamber of Commerce and Industry, aimed at enhancing trade and investment collaboration.

The event also featured presentations on investment opportunities in both Azerbaijan and Latvia, along with discussions on economic priorities and conditions for foreign investors. In addition, bilateral meetings between business leaders were held to explore further opportunities for expanding commercial ties.

By Sabina Mammadli