Azerbaijani Agriculture Minister Majnun Mammadov said the favourable business environment and investment opportunities in both Latvia and Azerbaijan were of great importance for expanding ties and establishing new business links, Report informs.
The minister made the remarks while speaking at the Azerbaijan-Latvia business forum held in Baku.
He recalled that the ninth meeting of the intergovernmental commission on economic, scientific-technical and cultural cooperation between Azerbaijan and Latvia was held in the city of Shusha on April 15, and stressed that priority areas for future cooperation in trade, agriculture, culture, tourism, education and other fields were identified at the meeting.
The minister added that the regular organisation of business forums, stronger exchange of information on competitive export products and active participation in international exhibitions would play a key role in strengthening ties between business representatives of the two countries.
He also underlined the importance of exchanging experience in agricultural technologies, food security and product exports, saying that partnership in this sector would bring mutual benefits to both countries.
Latvian Agriculture Minister Armands Krauze also touched on the importance of relations between the two countries. He said business forums were an important platform for building ties between business circles and stressed that such events helped create new investment opportunities, expand trade turnover and contribute to sustainable economic cooperation.
A memorandum of understanding was signed between Azerbaijan's Export and Investment Promotion Agency, AZPROMO, and the Latvian Chamber of Commerce and Industry, LCCI, as part of the Azerbaijan-Latvia business forum.
Presentations devoted to the investment opportunities of Azerbaijan and Latvia were delivered at the event, covering the economic priorities of both countries and the opportunities created for foreign investors.
Bilateral meetings were also organised between business representatives within the framework of the forum, where opportunities to expand business ties were discussed.