Latvian ambassador highlights Azerbaijan as key economic partner

Ambassador of Latvia to Azerbaijan Edgars Skuja has said that Azerbaijan is an important economic partner of Latvia.

"We highly appreciate the actively expanding cooperation between Latvia and Azerbaijan. I would like to express my gratitude to everyone who contributes to the further strengthening of the Azerbaijan-Latvia relations," the ambassador said during an official event organised on the occasion of the 106th anniversary of the proclamation of the Republic of Latvia, Caliber.Az reports.

"The trade turnover between our countries has significantly increased over the past two years. Both Azerbaijan and Latvia are interested in expanding trade and economic cooperation. Next year, we plan to hold a meeting of the intergovernmental commission. We have established active cooperation between municipalities, and we see young people’s growing interest in studying in Latvia," he noted. 

In conclusion, the diplomat highlighted the high level of organisation of the 29th session of the Conference of the Parties to the UN Framework Convention on Climate Change (COP29) in Baku: "I would like to congratulate Azerbaijan on the successful outcomes of this very important mission."

The final plenary session of the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29) took place in Baku on November 23.

Mukhtar Babayev, COP29 President-Designate and Azerbaijan’s Minister of Ecology and Natural Resources, noted the intense efforts over the past two weeks.

He emphasised that no one wanted to leave Baku without achieving substantial progress on key issues and called for focused work to resolve remaining disagreements. Babayev highlighted that global attention was on COP29.

During COP29, Baku welcomed between 70,000 and 80,000 international visitors, including leaders from governments, businesses, and civil society, all collaborating to develop practical solutions to address the unprecedented global temperatures and extreme weather events impacting people around the world.

The COP29 Presidency of Azerbaijan has announced the agreement of the Baku Finance Goal (BFG), a new commitment to channel $1.3 trillion of climate finance to the developing world each year.

Success on the COP29 Presidency’s top priority for the UN Climate Summit represents a significant uplift from the previous climate finance goal of $100 billion and will unlock a new wave of global investment, a press release on the COP29 website says.

The core of the new goal is the commitment of developed countries to allocate at least $300 billion annually for climate projects in developing nations. This figure is three times higher than the previous target of $100 billion set earlier.

By Naila Huseynova