Azernews.Az

By Rasana Gasimova

Azerbaijan is Austria's largest trading partner in the South Caucasus. Cooperation between the two countries in the economic sphere is at a satisfactory level. Over the years, a number of Austrian companies have been successfully operating in Azerbaijan.

Austrian Raiffeisen Bank International AG (RBI) will support delivery of agricultural machinery to Azerbaijan.

“At the moment, we have a project on the delivery of agricultural machinery worth several million euros”, the Bank told Trend.

RBI noted that it is a long-time partner of Azerbaijani banks, and it provides them with correspondent relations, allowing local banks to conduct international payments both in euros and other major currencies.

Corresponding relations are contract relations between credit entities that are aimed at conducting payments by mutual consent based on correspondent agreements with their display on correspondent accounts.

“We support delivery of goods and services to Azerbaijan under cooperation in the sphere of trade financing. This support is particularly important given the investment goods, such as machinery and equipment,” the Bank said.

Raiffeisen Bank International is the second largest bank of Austria. RBI is also active in Central and Eastern Europe. The markets of thirteen countries in the region are served by subsidiary banks of Raiffeisen Bank.

In addition, the group includes many other financial service providers, for example, in the field of leasing, asset management, as well as mergers and acquisitions. To support its activities, RBI has representative offices and service branches in selected Asian and Western European regions.

---

Follow us on Twitter @AzerNewsAz