On Tuesday, October 28, the government approved the conclusion of an economic cooperation agreement with Qatar. This agreement will support Latvian businesses in entering new and growing markets, thereby promoting export growth and attracting investments.
This will be the most important agreement regulating bilateral economic cooperation between Latvia and Qatar, covering areas such as trade, investment, industry, energy, agriculture, information and communication technologies, digitalization, science, transport and logistics, construction, tourism, and other areas of mutual interest.
The agreement also provides for the establishment of a Joint Latvian–Qatari Committee chaired by the ministers of economy of both countries, which will review current economic cooperation issues and explore opportunities for its expansion.
In 2024, Qatar ranked 110th among Latvia’s foreign trade partners (in goods and services). The total trade turnover amounted to €5.46 million, including exports of €5.43 million and imports of €0.03 million. In the first half of 2025, the trade turnover between the two countries increased by 20% compared to the same period last year, reaching €3.99 million (exports: €3.98 million; imports: €0.01 million). This year, Latvia mainly exported wood and wood products (29%) and mineral products (24%) to Qatar, while imports from Qatar consisted mainly of machinery, mechanical appliances, and electrical equipment (43%) and textiles (22%).
So far, only one intergovernmental agreement has been concluded with Qatar – the “Agreement between the Government of the Republic of Latvia and the Government of the State of Qatar for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income” (in force since June 1, 2015).