Azerbaijan, Latvia sign cooperation documents at Baku business forum

Azerbaijan and Latvia signed two memorandums of understanding at a business forum in Baku aimed at expanding business ties and investment cooperation between the two countries.

One memorandum was signed between Azerbaijan’s Export and Investment Promotion Agency (AZPROMO) and the Latvian Chamber of Commerce and Industry, while the other was signed between Caspian Energy Club International LLC and Power House Latvia LLC.

Speaking at the forum, Azerbaijan’s Agriculture Minister Majnun Mammadov said the 9th meeting of the intergovernmental commission on economic, scientific-technical and cultural cooperation between Azerbaijan and Latvia had taken place in Shusha on April 15, where the sides identified priority areas for future cooperation in trade, agriculture, culture, tourism and education.

Mammadov said the favorable business environment and investment opportunities in both countries were important for expanding cooperation and building new business links. He also highlighted the importance of exchanging experience in agricultural technologies, food security and exports, saying partnership in the sector could bring mutual benefits.

Latvian Agriculture Minister Armands Krauze said business forums served as an important platform for establishing contacts between business communities, creating new investment opportunities, expanding trade turnover and promoting sustainable economic cooperation.

The forum also featured presentations on investment opportunities in Azerbaijan and Latvia, the economic priorities of both countries and conditions created for foreign investors. Business-to-business meetings were also held on the sidelines of the event.