Azerbaijan, Austria set up chamber of commerce
Azerbaijan and Austria have established a chamber of
commerce in an effort to expand their economic relations.
Fuad Ismayilov, Azerbaijan’s Ambassador to Austria, told a news conference Tuesday that despite vast potential for bilateral trade, the commodities turnover between the two countries is below the desired level.
Alon Shklarek, the Chamber of Commerce (AACC) President, noted that the new entity will facilitate Austria’s access to Central Asia and Azerbaijan’s access to European markets.
The Azerbaijani-Austrian trade turnover is currently 100 million euros. Austrian companies are mainly operating in the South Caucasus republic’s commerce, services and construction sectors, and are also engaged in the restoration of museums. Moreover, an Austrian company is building a winter tourism and sports complex in Azerbaijan's northern Gusar district.
In a bid to take bilateral economic relations to a higher level, an Azerbaijan investment summit is to be held in Vienna in early 2011.
Fuad Ismayilov, Azerbaijan’s Ambassador to Austria, told a news conference Tuesday that despite vast potential for bilateral trade, the commodities turnover between the two countries is below the desired level.
Alon Shklarek, the Chamber of Commerce (AACC) President, noted that the new entity will facilitate Austria’s access to Central Asia and Azerbaijan’s access to European markets.
The Azerbaijani-Austrian trade turnover is currently 100 million euros. Austrian companies are mainly operating in the South Caucasus republic’s commerce, services and construction sectors, and are also engaged in the restoration of museums. Moreover, an Austrian company is building a winter tourism and sports complex in Azerbaijan's northern Gusar district.
In a bid to take bilateral economic relations to a higher level, an Azerbaijan investment summit is to be held in Vienna in early 2011.
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