Azerbaijan is an important partner for Latvia, both in economic and political terms, said Latvian Transport Minister Uldis Augulis.
He made the remarks at a meeting of the Latvia-Azerbaijan Intergovernmental Commission for Economic, Scientific, Technical and Cultural Cooperation in Baku on June 20.
The minister said there were many spheres that had big potential for bilateral cooperation.
Today, the relations between Azerbaijan and Latvia are developing successfully, noted Augulis.
“We intend to develop and bring the relations in education, economy, transit and logistics, tourism, and other sectors to a new level,” he added.
According to the Latvian official, expansion of bilateral relations in logistics is very important. Latvia wants to join together with Azerbaijan the new Silk Road project, which will lead to the development of economy of all participating countries, said the minister.
“Transportation and logistics provide an opportunity to develop entrepreneurship and increase trade turnover,” added Augulis.
According to Azerbaijan’s Customs Committee, the country’s trade turnover with Latvia amounted to $3.72 million in January-May, up by 11.5% YoY.
Meanwhile, the export of Azerbaijani goods to Latvia rose by 16% YoY and amounted to $312,010, and the import of the Latvian products increased by 11.1%, to $3.4 million. (Trend/Business World Magazine)