Azernews.Az

BAKU – Azerbaijan is the European Union’s main partner in the South Caucasus region, a senior Austrian official has said.

Andreas Schieder, the Austrian Federal Ministry of Finance State Secretary, told a panel discussion organized by the two countries’ chamber of commerce in Vienna that Azerbaijan, with its vast resources and strategic location, is of great importance for Europe. He noted that the country accounted for 90 percent of commodities exports to the European Union from the South Caucasus states in 2009. This further increases Europe’s interest in Azerbaijan, which is the fastest-growing economy in the Commonwealth of Independent States (CIS), Schieder said.

Considering all these factors, Austria is trying to focus its attention on Azerbaijan, analysts say. Austria’s opening an embassy in the country, simplifying visa regulations and signing a customs agreement with Baku are seen as major steps toward developing relations between the Austrian and Azerbaijani governments.

According to Schieder, extensive opportunities are available for Austrian companies in Azerbaijan, which is turning into a key economic player in the region, to do business in a slew of fields, including construction, agriculture, renewable energy, tourism, infrastructure, and environmental protection.