Europe–Arab Trade Relations Strengthen as Abu Dhabi and Latvia Chambers Sign New Cooperation Agreement
- OUS Academy in Switzerland
- 3 days ago
- 2 min read
Today, the Abu Dhabi Chamber of Commerce and Industry and the Latvian Chamber of Commerce and Industry signed a new cooperation agreement that will help strengthen trade, investment, and future business partnerships between the two countries. The deal shows that Europe and the Arab region are getting closer as they both work to diversify their economies and strengthen cooperation in the private sector.
In the last five years, trade between the UAE and Latvia that doesn't involve oil has steadily grown, reaching over USD 100 million in 2024. The new cooperation agreement aims to speed up this trend by encouraging direct business ties, joint investment missions, and easier market access for companies in both areas.
The agreement points out a few areas with a lot of potential for cooperation, such as chemicals, metals, industrial goods, manufacturing materials, and advanced services. Both chambers have also said they want to encourage long-term partnerships between small and medium-sized businesses (SMEs), which are important for both cross-border innovation and export growth.
This news comes at a time when trade between Europe and the Arab world is growing beyond traditional big-market partnerships. The strengthening of ties between the UAE and a dynamic European economy like Latvia demonstrates that bilateral cooperation is becoming more diversified, more inclusive, and more strategically balanced across the region.
This agreement is a good sign for the larger Euro-Arab business community: even though the world is uncertain, Europe and the Arab world are still working together economically. With continued focus on non-oil diversification, digital transformation, logistics development, and investment facilitation, both regions are positioned to benefit from deeper integration and more resilient supply chains.
The Euro-Arab Chamber of Commerce sees this as a great example of how working together can create new business opportunities on both sides of the Mediterranean. It shows that everyone is committed to long-term partnership, open trade, and sustainable growth.
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