Azerbaijan, Latvia sign cooperation deal to boost trade, innovation

Azerbaijan Export and Investment Promotion Agency (AZPROMO) and Latvian Chamber of Commerce and Industry (LCCI) have signed a memorandum of cooperation aimed at strengthening bilateral trade and investment ties.

The agreement was concluded during the Azerbaijan–Latvia Business Forum held on April 22 in Baku, according to the press service of Latvian President Edgars Rinkēvičs, Caliber.Az reports per local media.

Participants at the forum highlighted its role as a platform for fostering new partnerships and advancing concrete joint projects between businesses from both countries.

Rinkēvičs indicated that Latvia is seeking to expand cooperation with Azerbaijan in agriculture, including through the exchange of expertise in agricultural education and the application of innovative technologies such as unmanned aerial vehicles.

During talks with Azerbaijani President Ilham Aliyev, the Latvian leader noted that the business forum is expected to further enhance collaboration between entrepreneurs.

He also pointed to significant potential for cooperation across multiple sectors, including information and communication technologies, agriculture, transport and logistics, forestry, pharmaceuticals, and environmentally sustainable technologies. Rinkēvičs added that Latvia aims to strengthen trade relations and position itself as a strategic hub for Azerbaijani exports to the European Union, particularly to Northern European markets.

By Sabina Mammadli