Latvia offers Azerbaijan to cooperate in industry, pharmaceutics, tourism

/By Azernews/

By Amina Nazarli

Latvia proposes Azerbaijan to consider the possibility of cooperating in environmentally friendly technologies, food industry, pharmaceuticals and health tourism.

Latvia's Transport Minister Uldis Augulis made this remark during the 6th meeting of Azerbaijan-Latvia intergovernmental commission on economic, scientific, technical and cultural cooperation in Riga.

The minister noted that Azerbaijan is an important economic partner of Latvia.

The priority areas of cooperation between the two countries, according to the Latvian minister, include joint investment projects, increasing the volume trade turnover, effective use of international transportation corridors, communication in the spheres of education, agriculture, construction, tourism and health.

He pointed out that Azerbaijan is an important partner of Latvia in the spheres of transit and logistics in South Caucasus. Latvia, in turn, is an important transportation artery and an integral part of the new Silk Road and the North-South transportation corridor.

Azerbaijan's Transport Minister Ziya Mammadov, for his part, said that the relations between Azerbaijan and Latvia are expanding, noting that “the cooperation with Latvia, which is a member of the European Union, is important for us.”

Mammadov emphasized that the socio-political situation in Azerbaijan creates favorable conditions for attracting foreign investments and opens great opportunities for cooperation with Latvia's state and private structures.

Following the discussions, the two sides signed the final protocol. The document said that the bilateral relations between Azerbaijan and Latvia are based on the principles of mutual respect for the territorial integrity and sovereignty of the two countries.

The document said that the import, export and sale of goods and services produced on Azerbaijan's occupied territories, including in Nagorno-Karabakh, on Latvian markets, as well as any economic activity of Latvian companies on those territories is illegal, according to the international law and Azerbaijan's law.

The products manufactured on Azerbaijan's occupied territories won't be allowed to be delivered to Latvia without receiving a certificate from Azerbaijan's relevant structures.

Azerbaijan-Latvia relations are developing yearly and reciprocal visits play huge role in taking bilateral relations forward. Latvia recognized Azerbaijan’s independence in 1992. Bilateral diplomatic relations between the two countries were established in 1994 and the Azerbaijani Embassy in Latvia began to function in 2005, and the Latvian Embassy in Azerbaijan was opened a year later.

Azerbaijan attaches great importance to cooperation with Latvia within regional organizations, including the Union of the Baltic States. Latvia considers Azerbaijan to be Europe’s main source for energy resources in the Black Sea-Caspian region.

Azerbaijan-Latvia trade turnover amounted to $2.04 million in January-March 2016, this is 5.9 percent more than in the same period of 2015, according to the Azerbaijani State Customs Committee.

Starting this May direct flights between the two countries have been launched, thus promoting and improving relationship between the two counties.