Azernews.Az

Azerbaijani Economic Development Minister Heydar Babayev has cited the need for boosting trade with Switzerland.
Bilateral commodities turnover made up $50.2 million in 2006. In the first half of 2007, it constituted only $19.7 million, Babayev told an inter-governmental commission meeting in Baku last Wednesday.
Head of the Swiss State Secretariat for the Economy (SECO) Bilateral Economic Relations' Division, Monika Ruhl Burzi, said her country was interested in closer trade ties as well.
She said Switzerland backed Azerbaijan's bid for the World Trade Organization (WTO) membership and was ready to provide the needed assistance in this area.
In conclusion of the meeting, the two countries signed a protocol on cooperation in the fields of trade, private sector development, tourism and transport.
Minister Babayev told journalists after the signing ceremony that his country's cooperation with Switzerland was not confined to trade. This country is implementing a number of projects in Azerbaijan, such as the ones on laying the Ganja-Shaki water pipe and on computerization of the treasury. Switzerland also greatly supports Azerbaijan's initiatives in international financial institutions.
The Swiss representative pointed to the high level of bilateral economic relations. "Our companies are interested in the development of technology industry here that would live up to international competition."
On the same day, the governments of Azerbaijan and Switzerland inked an agreement on technical assistance aimed at improving the trade and investment climate in the country by protecting intellectual property rights. The document was co-signed by Foreign Minister Elmar Mammadyarov and the SECO representative Ruhl Burzi, according to the Azerbaijan Foreign Ministry which hosted the signing ceremony.