Azerbaijan, Baku, August 12 / Trend /
Although the amount of trade turnover between Azerbaijan and Latvia is not too high, progresses are achieved in this regard, Azerbaijan President Ilham Aliyev said making a speech at Azerbaijan-Latvia business forum on August 11, AzTV state television reported.
The President said that there are good prospects for economic co-operation between the two countries and significant achievements have been made in this regard.
"Existence of good political relations gives an opportunity to business people of the two countries to effectively co-operate in many spheres," Aliyev said.
Aliyev said that Azerbaijan-Latvia relations successfully develop and Latvian President Valdis Zatlers's visit to Azerbaijan opens a new stage in relations between the two countries.
Aliyev said that signing a number of bilateral agreements on August 10, Azerbaijan and Latvia strengthened legal foundation of the relations.
The President expressed confidence that the meeting of business people of the two countries will make a contribution to the development of relations.
"I believe that the role of the inter-governmental joint economic commission is significant, since it will help business people establish relations, coordinate various projects and invest in more attractive sectors. After yesterday's discussions, we came to a conclusion that our economies are not in competition with each other. We do not compete for market. Our economies can successfully support each other," Aliyev said.
The Latvian President Valdis Zatlers said that roughly 29 joint Azerbaijani-Latvian enterprises operate in Latvia. The Latvian President expressed hope that this number will significantly increase in the nearest few years, AzerTaj state informational agency said.
Zatlers said that world financial crisis did not impact trade turnover between two countries. He said that export from Latvia to Azerbaijan increased twice in 2008 but import from Azerbaijan to Latvia increased 30 percent. Trade turnover between Latvia and Azerbaijan continued increasing in the first quarter of 2009, Zatlers said.
"Azerbaijan is very important and prospective partner for Latvia," Valdis Zatlers said.
He said that Latvia can be not only trade partner for Azerbaijan.
"We can also be strategic bridge to operate in other European countries," the Latvian President said.
He invited Azerbaijani participants of the forum to go through Riga airport while going to Scandinavia and Central Europe.
The Latvian President said that both countries try to take adequate measures connected with energy security.
"Latvia considers Azerbaijan as major country of the Black Sea-Caspian region to provide Europe with energy resources," he said.
He expressed hope that Azerbaijani natural gas will be supplied to Europe via Nabucco gas pipeline in future.
It is also reported that the Latvian President Valdis Zatlers and his spouse Lilita Zatlers visited Zagatala, Sheki and Gabala regions of Azerbaijan.