TODAY.AZ / Business

Minister: Latvia can help distribute Azerbaijani products to Northern Europe

09 September 2019 [12:31] - TODAY.AZ

By Azernews

By Rasana Gasimova

For many years, Azerbaijan and Latvia have been developing strong business ties. Currently, the main directions of bilateral cooperation between the two countries are trade relations.

Latvia can become a gateway for the export of Azerbaijani products to the European Union, Latvian Minister of Economy Ralfs Nemiro told Trend.

“We would like to particularly emphasize the opportunity of developing logistical centers in Latvian seaports for distribution of Azerbaijani goods in Northern Europe. Our terminals are suitable for various export products, such as oil, oil products, metals, engineering items, plastic and chemical products, as well as vegetables, fruits, tea, cotton, textile and agricultural products,” Nemiro said.

He added that Latvian logistical centers and three large warm-water seaports - Riga, Ventspils and Liepaja - ensure fast delivery of products to the final customer in the region of the Baltic Sea throughout the year.

“We are proud to be able to deliver products to the Baltic nations, Stockholm, Helsinki and Warsaw in less than 24 hours, and in 48 hours throughout the whole Northern Europe,” Nemiro said.

He also mentioned that the opening of Azerbaijani trading house on July 23, 2018 during the visit of the Deputy Minister of Economy of Azerbaijan was an important step in this context.

“We hope that the Azerbaijani trading house will serve as a good example for Azerbaijani exporters, and Azerbaijan will be open new trade, logistical and manufacturing enterprises in Latvia in order to further process and distribute products  to the Baltic nations and countries of Northern and Western Europe,” said Nemiro.

He went on to say that Latvia is ready to expand export of its goods to Azerbaijan.

"As a future project, new supply chains between India, Iran, Central Asia and Europe can also be developed through the ports of Azerbaijan and Latvia," Nemiro added.

The trade turnover between Latvia and Azerbaijan increased by more than 20 percent year-on-year in 2018, amounting to 19.84 million euros. Azerbaijan invested $164 million in Latvia, while Latvia invested $84 million in the economy of Azerbaijan so far.

Presently, about 40 Latvian companies operate in construction, service, industry, communications, transport, trade, banking and insurance sectors of Azerbaijan.


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