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Minister outlines opportunities to increase trade with Austria

28 October 2019 11:58 (UTC+04:00)
Minister outlines opportunities to increase trade with Austria

By Leman Mammadova

The trade between Azerbaijan and Austria amounted to $397 million in 2018, and there are great opportunities to increase this figure.

Ramin Guluzade, Minister of Transport, Communication and High Technologies, made the remarks at the ceremony on the occasion of Austria’s National Day, organized by Austrian Embassy in Azerbaijan on October 25.

Guluzade noted that more than 40 documents have been signed between Azerbaijan and Austria to date. “In addition, over 10 documents are currently under consideration.”

“Today, Austria is a reliable partner of Azerbaijan in Europe, and Azerbaijan is a reliable partner of Austria in South Caucasus region,” he said.

He further stressed the businessmen’s role in the development of economic cooperation between the two countries.

Guluzade added that over the years, Austrian companies have been involved in a number of important infrastructure projects implemented in Azerbaijan.

He also pointed to the great potential for further development of bilateral cooperation in the innovative technologies, transport, healthcare, energy, industry and agriculture.

In his words, following a joint declaration by the heads of Azerbaijan and Austria signed on May 13, 2013, relations between the two countries entered a new stage of development. “This declaration is a brief description of the close partnership between our countries and reflects a number of issues, including Austria’s position on the Armenia-Azerbaijan Nagorno Karabakh conflict.”

“We highly appreciate Austria’s fair position regarding the peaceful settlement of the conflict based on relevant UN Security Council resolutions and the principle of sovereignty, territorial integrity and inviolability of state borders,” stressed Guluzade.

Presently, about 50 Austrian companies operate in industry, construction, trade, service, banking and insurance, transport and other spheres in Azerbaijan.

Austrian companies invested $73 million in Azerbaijan’s economy, while Azerbaijan invested $60 million in the economy of Austria.

Transport sector is now the main area for investments in Azerbaijan for Austrian companies. Austria also supports Azerbaijan’s role in the diversification of energy supplies to Europe and highly appreciates energy projects implemented by Azerbaijan in this direction.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

Follow us on Twitter @AzerNewsAz

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