BAKU, Azerbaijan, Dec.10
By Leman Zeynalova - Trend:
Latvia would welcome Azerbaijani investments in any segment of economy, Secretary of State of the Ministry of Foreign Affairs of the Republic of Latvia Andris Pelšs said in an interview with Trend.
“Regrettably, the accumulated direct Azerbaijani investment in Latvia decreased by 23.5 percent in the second quarter of 2021 as compared to the investment amount at the end of 2020. Consequently, we would welcome investments in any segment of economy. It is noteworthy that the ICT sector has evolved into the fastest-growing field of export in Latvia. Priority vectors of cooperation offered by Latvia in the ICT sector brings to the fore the products and solutions of cross-sectoral cooperation – bioeconomy, biomedicine, smart materials and photonics, as well as smart energy,” he said.
Andris Pelšs noted that in bilateral relations business opportunities and its development play a significant role.
“Therefore, if Latvian business community will indicate its interest to expand their operations in Azerbaijan, Latvian Embassy in Baku will assist them where possible. I can note with satisfaction that trade contacts between Latvia and Azerbaijan are evolving successfully, and the interest of businesses is increasing. In 2020, when the total turnover of trade in goods between the two countries increased by 2.4 percent, regardless of the COVID-19 pandemic, also the statistics for bilateral trade in goods continue an upward trend in the first nine months of 2021, with an increase of 1.5 percent,” he added.
The state secretary noted that Latvia’s main exports are foodstuffs, pharmaceutical products and electrical appliances.
‘Imports from Azerbaijan constitute mainly steel and plastic products. Manufacturers are actively seeking, including with support from the embassies, to expand and diversify the offer of goods in trading networks and enable customers to explore and enjoy products originating from both countries,” he said.
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