Bilateral economic cooperation of Latvia with the Member-States of the European Union and European Economic Area is implemented in accordance with the principles of EU internal market, which provide for the free movement of goods, persons, services and capital.
Economic cooperation with the non-EU states is implemented at both European Union and national level. At national level, it is implemented within the framework of bilateral economic cooperation agreements. Up till now, Latvia has entered into bilateral economic cooperation agreements with — Armenia, Azerbaijan, Belarus, China, Georgia, Kazakhstan, Kyrgyzstan, Kuwait, Moldova, Russia, Ukraine, the United Arab Emirates, Uzbekistan, Tajikistan, Turkey and Turkmenistan.
These agreements are the most important umbrella agreements regulating bilateral economic cooperation, which encompass collaboration in such fields as industry, tourism, transport and logistics, pharmacy, agriculture, financial services, information and communication technologies, investment attraction, innovations, etc.