Deepening cooperation with Azerbaijan will help Latvia integrate into the New Silk Road, said the president of the Baltic Republic, Raimonds Vejonis, in an interview with Caspian Energy.
“In our opinion, two important international transport corridors pass through Azerbaijan. The first is the North-South international corridor with a branch to the Baltic Sea region. The second is the Europe-Caucasus-Asia transport corridor (TRACECA), which is part of the new Silk Road and creates a strategic link between the Caspian Sea and the Black Sea. Therefore, Latvia considers Azerbaijan a very important partner for the development of new transport routes in Eurasia, ” said Vejonis.
According to him, Latvia is interested in cooperation with Azerbaijan in land transport links between Asian countries, Black Sea countries and Northern Europe.
“Latvia and Azerbaijan have common interests in railway and port infrastructure, and both sides benefit from this cooperation,” said Vejonis. “To expand our cooperation in transit services, investments in Latvian ports and logistics centers are welcome.”
As Sputnik Latvia already wrote, the transit sector of the Baltic country had lost a significant amount of cargo due to Russia’s intention to develop its own railway and port infrastructure. According to the organization Baltic Association – Transport and Logistics, over four years, rail transportation decreased by 23%, the turnover of Latvian ports – by 16%, and the national economy lost at least 132 million euros.
Latvia is in search of goods that could replace the Russian flow and compensate for a significant decline in profits. As one of the options considered the transit of goods from Asia, in particular from China, in the framework of the project “New Silk Road”. In addition, Latvia hopes to integrate into the North-South corridor between India and Northern Europe.