Abu Dhabi Chamber Signs Agreement to Boost Trade with Latvia

The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has signed a cooperation agreement with the Latvian Chamber of Commerce and Industry (LCCI) to strengthen trade and investment ties between Abu Dhabi and the Republic of Latvia. The agreement was signed during the Joint Economic Committee meeting led by the UAE Ministry of Foreign Trade, reflecting the shared commitment of both countries to expand private sector partnerships.

The agreement was signed by Aida Al Khoury on behalf of Ali Mohamed Al Marzooqi, Director-General of ADCCI, and Katrina Zarina, Board Member and Director of External Relations at LCCI. It establishes a structured framework to facilitate trade, encourage investment flows, and enable companies from both countries to explore new markets efficiently.

Economic relations between the UAE and Latvia are growing steadily. Bilateral non-oil trade reached US$103 million in 2024, showing a 7.5% compound annual growth rate over the past five years. There is strong potential for further growth, especially in sectors such as plastics, chemicals, jewellery, and metal products, which offer promising opportunities for UAE exports to Latvia.

Latvian businesses in Abu Dhabi are active across professional and technical services, wholesale trade, real estate, financial services, and sports. Abu Dhabi companies are also expanding in Latvia, with major projects like the US$3.3 billion Eagle Hills investment in Riga’s waterfront redevelopment and a strategic agreement between Abu Dhabi’s M42 and Latvia’s Ministry of Health to promote digital health and AI-enabled healthcare solutions.

Through this partnership, both chambers will exchange economic and commercial insights, support investors, and create direct channels between Abu Dhabi companies and Latvian businesses. The cooperation will also include joint business delegations, forums, and trade exhibitions to help companies find partners, explore opportunities, and build long-term commercial relationships. In addition, both sides will share technical expertise and support participation in international events and capability-building initiatives.

Ali Mohamed Al Marzooqi said, “This agreement is an important milestone for the growing relationship between the business communities of Abu Dhabi and Latvia. Abu Dhabi provides a stable, competitive, and innovation-driven business environment with advanced infrastructure and strong global connectivity. Through this partnership, companies from both sides can explore opportunities, expand their presence, and develop sustainable investment partnerships aligned with shared economic goals.”

Katrina Zarina added, “We are pleased to formalize our cooperation with the Abu Dhabi Chamber. This agreement strengthens our ability to connect Latvian businesses with Abu Dhabi’s growing market and creates new pathways for collaboration in trade, investment, and innovation. We look forward to achieving concrete benefits for both sides.”

The agreement offers Abu Dhabi Chamber members direct access to Latvia and the wider European Union through a trusted institutional partner. It allows companies to benefit from market information, sector insights, and structured commercial engagement to support international growth. This partnership reinforces ADCCI’s efforts to enhance global connectivity, empower the private sector, and position Abu Dhabi as a leading hub for investment, innovation, and sustainable economic development.