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Asia Today ISSN 1861-4604 Friday, October 20, 2017

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Latvia chose priority areas for co-op with Azerbaijan

Cooperation areas ICT and pharmaceuticals

Share on Facebook November 30, 2015, Reporter : Trend, Reader : 533

PHOTO CREDIT: Trend News Agency news

Baku, Azerbaijan, Nov. 29, By Anvar Mammadov – Trend: Azerbaijan and Latvia have many priority areas for cooperation, Dana Reizniece-Ozola, the Latvian Economy Minister, told Trend.

“The main cooperation areas are the information and communication technologies and pharmaceuticals,” said Reizniece-Ozola, who is on a visit to Baku.

"Latvian Dd-studio company has been successfully operating in Azerbaijan,” she said. “It created expositions in Maiden Tower and Gobustan. There are a few areas where the Latvian ICT companies have been successfully operating.”

“Another important area in the development of Azerbaijan-Latvia relations is the pharmacy,” she said.

"Latvian medicine and pharmacy has a very good educational and industrial base,” the minister said. “We have the well-developed medicine production. We know that the production of medicine and medications is not well developed in Azerbaijan. I think this is a good basis for the development of relations in this area. Our pharmaceutical companies are greatly interested in not only selling medicine here, but also producing it in Azerbaijan."

“The main obstacle in the development of Azerbaijan-Latvia relations is the lack of a well-developed transport network,” she said. “But this problem must be solved in the near future.”

“Commissioning of the Baku-Tbilisi-Kars railway, as well as development of the North-South transport corridor will enable to create a developed transport network between Azerbaijan and Europe which will lead to further development of our relations,” said the Latvian minister.

She added that an agreement was signed with Baku Cargo Terminal in 2015 to construct a new cargo terminal with the capacity of 200 tons per day (100 tons for import and export of cargo each) in Riga airport by 2017.

Development of the transport infrastructure will create a good basis for improving the business, according to Dana Reizniece-Ozola.

Currently, the total volume of Azerbaijani investments in Latvia’s economy is one million euros.

Over 30 Latvian companies operate in Azerbaijan.

Recently, a joint Azerbaijan-Latvia business forum has been held in Baku during the visit of the Latvian delegation. The event was attended by around 90 businessmen carrying out activities in the spheres of industry, logistics, tourism, medicine and pharmaceuticals, education, construction, finance and so on.>

Follow the author on Twitter: @Anvar_Mammadov

 

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