Latvian and Azerbaijani foreign ministers agree to strengthen economic co-operation

On 24 April Foreign Minister Maris Riekstins, at a meeting with Elmar Mammadyarov, the Foreign Minister of Azerbaijan, discussed the intensification of Latvia-Azerbaijan political dialogue and strengthening of the legal framework and economic co-operation.

Minister Riekstins noted that over recent years Latvia and Azerbaijan have developed an active political dialogue at all levels. Mr Riekstins unveiled to Minister Mammadyarov that Speaker of the Saeima Gundars Daudze and Minister of Defence Vinets Veldre are planning a visit to Azerbaijan this year.

Both sides exchanged opinions regarding the strengthening of the legal framework between Latvia and Azerbaijan. The ministers were of the same opinion that the two states have developed a successful basis of agreements. The Latvian Minister pointed out that there are numerous agreements on economic and legal co-operation between particular Latvian and Azerbaijani ministries and other institutions which are in preparation, for example, an agreement between the Financial and Capital Market Commission of Latvia and the National Bank of Azerbaijan, which would allow Latvian financial institutions to operate in Azerbaijan.    

The officials discussed possible co-operation in the energy sector, given the necessity to consider the diversification of energy resource supplies which is of significance to many states in Europe, including Latvia. The Latvian Foreign Minister suggested that both states could develop their co-operation, for instance, Latvian port services could be of interest to Azerbaijani enterprises for exports of various natural products to foreign markets.    

The foreign ministers shared views on the future dialogue between Azerbaijan and the EU.

The Azerbaijani Foreign Minister delivered an invitation from President Ilham Aliyev of Azerbaijan addressed to President Valdis Zatlers and personally extended an invitation for Minister Riekstins to make an official return visit to Azerbaijan.

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