(MENAFN- Mid-East Info) -p

The agreement was signed by Ms Aida Al Khoury, on behalf of His Excellency Ali Mohamed Al Marzooqi, Director-General of the Abu Dhabi Chamber of Commerce and Industry, and Ms Katrina Zarina, Board Member and Director of External Relations at LCCI. The signing establishes a structured framework for collaboration aimed at facilitating trade, encouraging investment flows, and enabling companies in both countries to explore new markets.

Economic ties between the UAE and Latvia continue to grow steadily. Bilateral non-oil trade reached USD 103 million in 2024, reflecting a compound annual growth rate of 7.5% over the past five years and highlighting the strong potential for further expansion. Several high-potential product categories offer opportunities for increased UAE exports to Latvia, including plastics, chemicals, jewellery and metal products.

Latvian Chamber members in Abu Dhabi are active across professional and technical services, wholesale trade, real estate, financial services and sports, demonstrating the increasing engagement of Latvian businesses within the emirate's market. Abu Dhabi companies are also expanding their presence in Latvia, with recent milestones such as the USD 3.3 billion Eagle Hills investment in Riga's waterfront redevelopment project, and the strategic agreement between Abu Dhabi's M42 and Latvia's Ministry of Health to advance digital health and AI-enabled healthcare transformation.

Through this partnership, the two chambers will work together to exchange economic and commercial insights, support investors, and create direct channels of engagement between the private sector in Abu Dhabi and Latvian companies. The agreement also includes close coordination on business delegations, joint forums and trade exhibitions to help companies identify partners, explore opportunities and build long-term commercial relationships. In addition, both sides will cooperate on sharing technical and economic expertise and supporting company participation in international events and capability-building initiatives.

Commenting on the agreement, His Excellency Ali Mohamed Al Marzooqi, Director-General of the Abu Dhabi Chamber of Commerce and Industry, said:“This agreement represents an important milestone in the growing relationship between the business communities of Abu Dhabi and Latvia. Abu Dhabi offers a stable, competitive and innovation-driven business environment supported by clear regulations, advanced infrastructure and strong global connectivity. Through this partnership, we will support companies from both sides to explore opportunities, expand their presence and build sustainable investment partnerships aligned with our shared economic ambitions.”

From her side, Ms Katrina Zarina, Board Member and Director of External Relations at the Latvian Chamber of Commerce and Industry, said:“We are pleased to formalise our cooperation with the Abu Dhabi Chamber. This agreement strengthens our ability to connect Latvian businesses with Abu Dhabi's fast-growing market and creates new pathways for collaboration in trade, investment and innovation. We look forward to achieving concrete outcomes that benefit both sides.”

The agreement provides the members of Abu Dhabi Chamber with direct access to Latvia and the wider European Union through an official institutional partner. It enables companies to benefit from trusted market information, sector insights and structured commercial engagement that support expansion and international growth. The partnership reinforces ADCCI's ongoing efforts to enhance global connectivity, empower the private sector and position Abu Dhabi as a leading international hub for investment, innovation and sustainable economic development.

MENAFN03122025005446012082ID1110433792