Austria expresses interest in Azerbaijan's construction sector
By Nazrin Gadimova
An Azerbaijani-Austrian Business Forum was held in Baku on December 5, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) reported.
Organized by AZPROMO with the support of Azerbaijan's Economy and Industry Ministry, the event was held at Baku Business Center as part of the Austrian delegation's visit to Azerbaijan.
Besides official representatives, the event brought together about 130 businessmen operating in food, chemical, and electricity industries, as well as logistics, construction and engineering.
Speaking at the event, AZPROMO President Rufat Mammadov informed the guests about Azerbaijani-Austrian economic relations, and the social-economic policy conducted in Azerbaijan and its results.
Saying Azerbaijan has created a favorable business climate in the country, he also spoke about the open door policy in Azerbaijan, inviting Austrian businessmen to close cooperation.
Head of AZPROMO said trade turnover between Austria and Azerbaijan shows a 94 percent increase compared to last year.
"This figure amounted to about $264 million at the end of 2012," Mammadov said. "We are pleased to note that cooperation between our countries is developing year by year."
He added that there are currently 46 companies in Azerbaijan that operate with Austrian capital.
"We welcome our Austrian colleagues to invest in our national economy. Azerbaijan is trying to attract Austrian capital to major projects implemented in the country, such as the Sumgait Chemical Industrial Park and others," Mammadov said.
Vice President of the Austrian Federal Economic Chamber Richard Schenz said Austrian companies are interested in exporting technologies to Azerbaijan.
"The delegation led by me includes representatives of 19 Austrian companies," he said. "I believe the Austrian entrepreneurs can contribute to Azerbaijan's development."
"Austria is interested in investing in the construction sector -particularly in the construction, engineering technology, and production of construction materials. Austrian experts have considerable experience and qualifications in the field of tourism, including winter tourism and construction of facilities," Schenz added.
Earlier, Azerbaijan's Energy Ministry hosted a meeting with the Austrian delegation led by Deputy Federal Minister of Transport, Innovation and Technology Andreas Reinhard.
Trade turnover between Azerbaijan and Austria was about $333.46 million in the first eleven months of 2013, Azerbaijan's State Customs Committee reported. Azerbaijan's imports from Austria amounted $79.58 million, while exports to Austria amounted to $253.88 million during this period.
Earlier, Baku Business Center hosted Azerbaijani-Dutch and Azerbaijani-Italian business forums.