Abu Dhabi, Latvian chambers sign accord to strengthen economic ties

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with the Latvian Chamber of Commerce and Industry (LCCI), marking a new step in strengthening trade and investment collaboration between the Abu Dhabi and the Republic of Latvia.

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The agreement was signed during the Joint Economic Committee meeting with the Republic of Latvia, led by the Ministry of Foreign Trade of the United Arab Emirates, and reflects the shared commitment of both sides to deepen private sector partnerships and expand bilateral cooperation.

The agreement was signed by Aida Al Khoury, on behalf of Ali Mohamed Al Marzooqi, Director-General of the Abu Dhabi Chamber of Commerce and Industry, and Katrina Zarina, Board Member and Director of External Relations at LCCI. The signing establishes a structured framework for collaboration aimed at facilitating trade, encouraging investment flows, and enabling companies in both countries to explore new markets.

Economic ties between the UAE and Latvia continue to grow steadily. Bilateral non-oil trade reached US$103 million in 2024, reflecting a compound annual growth rate of 7.58 over the past five years and highlighting the strong potential for further expansion. Several high-potential product categories offer opportunities for increased UAE exports to Latvia, including plastics, chemicals, jewellery and metal products.