Azerbaijan, Latvia explore opportunities to enhance non-oil exports

Azerbaijan, Latvia explore opportunities to enhance non-oil exports

BAKU, Azerbaijan, February 23. Azerbaijan and Latvia discussed directions for expanding the export of non-oil Azerbaijani products, TurkicWorld reports.

According to the Ministry of Economy of Azerbaijan, Deputy Minister of Economy Sahib Mammadov met with the Latvian Deputy Minister of Agriculture Normunds Šmits.

The meeting highlighted the role of mutual visits and high-level meetings in expanding relations between Azerbaijan and Latvia, briefed on economic reforms in Azerbaijan, a favorable investment environment, and applied concessions.

Besides, the meeting noted that Latvian companies have broad opportunities for cooperation in the restoration and reconstruction of Azerbaijan's liberated territories, projects implemented in industrial parks, the Alat Free Economic Zone, and other areas of the economy.

During the meeting, the parties discussed the directions for expanding trade and economic relations, including the export of non-oil and gas products produced in Azerbaijan, participation in joint projects, agriculture, alternative energy, food security, and other topics, and exchanged views on collaboration in these areas.

To note, the data from the State Customs Committee of Azerbaijan showed that in January 2024, the country exported goods to Latvia amounting to $464,500, while importing goods worth over $1.69 million.