Azernews.Az

Austria-Azerbaijan trade turnover is expected to grow this year, up from 150 million manats (around $190 million) posted in 2010, Austrian Ambassador Silvia Mayer Kaybich has said.

Kaybich said 74 percent increase in Austria’s exports to Azerbaijan was reported in 2010.

The ambassador told reporters on Monday that bilateral trade has been on the rise since the Austrian embassy opened in Azerbaijan last year.

Kaybich also said an Austrian-Azerbaijani business forum underway in Baku aims to make preparations for Austrian President Heinz Fischer’s official visit to Azerbaijan, due October 11-12.

The two countries are expected to sign agreements on urban and innovative technologies as well as other fields during the Austrian leader’s visit.

According to Kaybich, areas for potential investments by Austrian businessmen in Azerbaijan are being explored.

"These include infrastructure and the prospective tourism sector," she said. "We are trying to study these fields more closely."

Kaybich also said the telecommunications sector is rapidly developing in Azerbaijan.

"We are closely following the project of launching Azerbaijan’s national satellite [into space]. This is a tremendous project. Also, the introduction of e-government is of great importance for us. We will discuss a number of issues regarding this topic with the Azerbaijani side tomorrow."

A 70-people-strong delegation comprising businessmen and executive officials led by Vienna Vice-Mayor Renate Brauner is in the Azerbaijani capital to attend the two-day business forum, "Vienna urban technologies for Azerbaijan", which started on Monday.

During the forum, organized by Austrian-Azerbaijani Chamber of Commerce and Azerbaijani export and investment promotion agency Azpromo, Austrian specialists and representatives of companies are sharing their hands-on knowledge in such fields as culture, tourism administration, transportation planning, e-government, alternative energy and waste management.