Azerbaijan-Latvia Joint Commission agrees to deepen ties

Latvian Economy Jurijs Strods and Azerbaijani Economic Development Minister Heydar Babayev inked a protocol at the end of the meeting, APA reports.

Jurijs Strods said among the issues, cooperation in banking sector was on focus during the discussion. He noted that his country exports chemicals, wood materials, metals and automobile to Azerbaijan and import foodstuffs.

Heydar Babayev said the issue to deepen the cooperation in the diversification of the transportation of energy supplies was discussed.

"We didn't discuss exportation of Azeri oil. We share opinions of maximum diversification of infrastructure projects and pipelines," he said.

He also said trade turnover between the both countries is $10,222m, adding that "it is a small figure and doesn't agree with the potential, but we are satisfied with the present dynamics encouraged by President Ilham Aliyev's visit to Latvia and the business forum took place on the scope of the visit."

Deputy Chair of the Board of the Azerbaijan National Bank, Rufat Aslanli said the issue on Azerbaijani banks' opening branches and subsidiaries in Latvia was discussed between the parties.