The UAE’s Minister of Economy, Mr. Abdulla bin Touq Al Marri, met virtually with Latvia’s Minister of Economy, Mr. Jnis Vitenbergs, to discuss new areas of economic collaboration between the two countries.
During the meeting, which was attended by Mr. Hanan Khalfan Obaid Al Alili Emirates Ambassador to Latvia, the parties decided to run direct flights between the two nations this year, to boost their economic development.
The discussion also covered strategies to promote trade and investment between the two countries, as well as ways to boost their economic development, form new business relationships in important industries, and take advantage of Expo 2020 Dubai potential.
“Latvia is a key economic destination and trade partner for the UAE in the Baltic Sea region. We recently achieved significant progress in the cooperation between our business communities. In the coming period, we will work to enhance our cooperation and partnerships in many new areas, most notably innovation, small and medium-sized enterprises (SMEs), renewable energy, industry, and ICT.”
They also decided to organize a combined economic forum on the margins of the exhibition, with Latvian and UAE enterprises in attendance, as well as the second edition of the Joint Economic Committee between the two nations in February 2022, to examine public and private economic collaboration potential.
Mr. Al Marri emphasized their countries’ deep links, which are bolstered by their governments’ desire to strengthen bilateral ties, particularly in economic areas, as proven by the fact that their trade will rise in 2020 despite COVID-19-related problems.
The two nations decided to sign initiatives to encourage entrepreneurs in both countries and to assist in the exploration of investment opportunities in their respective markets, as well as to share expertise and experiences and to draught an action plan to increase their commerce in technology and the digital economy.