(MENAFN- Trend News Agency)
BAKU, Azerbaijan, August 16. Latvia is keen to
expand bilateral cooperation with Azerbaijan in various spheres,
the Ministry of Foreign Affairs of Latvia told Trend .
'After the 8th meeting of the Intergovernmental Commission on
economic, scientific, technical and cultural cooperation between
Latvia and Azerbaijan (IGC) held on May 20, 2022 in Riga, Latvia,
both parties expressed common interest in a further expansion of
bilateral cooperation in the field of trade and investments,
transport, science and education, innovation, agriculture and food
safety, environmental protection and climate change, tourism and
culture,' the source said.
According to the ministry, also, an agreement was reached during
the 8th meeting of the IGC to establish the cooperation between the
Small and Medium Business Development Agency of the Republic of
Azerbaijan (SMBDA) and the Investment and Development Agency of
Latvia (LIAA), as well as between SMBDA and the Development Finance
Institution ALTUM to exchange experience in the field of small and
medium business support (LIAA) and financing models (ALTUM).
'It will certainly help provide assistance in future to
companies and business organizations interested in launching new
business initiatives, and encourage companies and business
organizations to strengthen their cooperation,' the source
In addition, within the framework of the 8th Session of the IGC,
the 'Memorandum of Understanding between the Food Safety Agency of
the Republic of Azerbaijan and the Food and Veterinary Service of
the Republic of Latvia on cooperation in the field of food safety'
was signed, which will serve as a good basis for expanding
bilateral cooperation, the MFA said.
As the ministry noted, Latvia also sees potential for fruitful
cooperation with Azerbaijan in renewable energy sector.
'Ensuring investments in sustainable energy capacities, notably
wind- and solar-based generation, are perceived as a strategic
priority in cooperation with Azerbaijan. There is a huge potential
in the areas of research and development, knowledge transfer and
technological exchange, as well as solar installation development',
the source added.
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