The information was translated using the ChatGPT service.
Latvia and Kazakhstan have long-standing good bilateral relations based on mutual trust, which it is time to revitalize, especially in the field of economic cooperation," said Minister of Economics Viktors Valainis during a meeting with Kazakhstan's Ambassador to Latvia, Daurens Karipovs.
Minister Valainis touched upon the issues of sanctions against Russia during the conversation, where Kazakhstan plays a significant role in preventing the transit of sanctioned goods through its territory. The ambassador confirmed that Kazakhstan is working closely with the European Union and NATO on the issue of sanctions and takes the Western-imposed sanctions regime seriously.
On behalf of Kazakhstan's Minister of Economy, Daurens Karipovs extended an invitation to Viktors Valainis to attend the annual Astana International Economic Forum, scheduled for June 13-14 this year. The theme of the forum will be the promotion of multilateral cooperation to overcome global challenges such as armed conflicts, the climate crisis, and economic transformation. Valainis expressed gratitude for the invitation, indicating that either he or another minister from the Latvian government would attend the forum.
Both parties acknowledged that a mutually beneficial economic cooperation has developed between Latvia and Kazakhstan for a long time, especially in the field of transportation and logistics. However, they also recognized the significant potential for cooperation in other sectors. Karipovs mentioned that Kazakhstani and Latvian companies have established contacts and expressed interest in collaboration in areas such as logistics, fisheries, construction, pharmacy, engineering, and metal processing. Minister Valainis acknowledged that Kazakhstani investors are welcome in Latvia and pledged to address any obstacles that may arise for their business.
The ambassador noted that more than 145 companies with Latvian capital operate in Kazakhstan. The Kazakhstani government aims to shift the country's economy from traditional raw material extraction to industries with higher added value, particularly modern industry. Valainis emphasized that Latvia's experience could be beneficial for Kazakhstan, which is actively transforming its economy towards sectors with higher added value.