New prospects for Kazakhstan-Latvia co-operation

On 11 August 2023, the Embassy of Kazakhstan in Latvia hosted a meeting with the management of the Association of Stevedoring Companies of Latvia, Baltic-Kazakhstan Association for Economic Development, leading infrastructure and logistics companies of Riga and Ventspils ports.

During the meeting, the parties discussed the current state and prospects for further development of bilateral economic cooperation in various areas, as well as organisational and substantive aspects of the visit of a representative Latvian business delegation to Kazakhstan in early September this year.

The Ambassador of Kazakhstan Timur Primbetovs thanked the interlocutors for the initiative to organise the visit of the business delegation to Kazakhstan and noted the importance at this stage of coordinated work to coordinate the programme of the forthcoming trip and determine the range of specific meetings with Kazakh entrepreneurs.

At the end of the meeting was emphasised the need to maintain positive dynamics and further efforts to diversify areas of economic cooperation of mutual interest to both sides.

For reference: according to Kazakhstani statistics, the volume of mutual trade in 2022 was 216.2 million USD. The volume of mutual trade in 2022 totalled $216.2 million, which is 4 times higher than in 2021. For 6 months of the current year, trade turnover between the countries amounted to 209.7 million USD (export - 185 million USD). USD (exports - 185 million USD, imports - 34.2 million USD).

The main export items from Kazakhstan to Latvia are: coal, zinc, cotton fibre, rapeseed, petrochemicals.

Kazakhstan imports medicines and preparations, industrial goods and consumer goods from Latvia.