Austria to send trade mission to Azerbaijan
By Vugar Khalilov
Austria will send a trade mission to Azerbaijan, the Austrian Federal Ministry for European and International Affairs told Trend on August 13.
The mission is expected to visit Azerbaijan in November 2021.
The Austrian Ministry said that despite the growing turnover over the past years, the volume of the mutual trade relations between Azerbaijan and Austria has significantly suffered during the COVID-19 pandemic.
However, after the crisis, a surge in activity and an increase in trade turnover to a normal level can be anticipated, the ministry said, adding that the trade mission of Austrian companies in Baku in November 2021 should be helpful in this regard.
“Looking ahead, the field of tourism in general and hotel as well as resort infrastructure in particular could offer potential for cooperation. Also in the field of agriculture Austria is an interested investor," said the ministry.
Austria mainly exports machinery, special industrial equipment, pharmaceutical products, vehicles, steel, non-alcoholic beverages and breeding cattle to Azerbaijan that amounted to approximately 75 million euros in 2019.
However, due to the pandemic the export from Austria to Azerbaijan declined by 38 percent or 47 million euros in 2020, the Ministry added.
The state institution said that the level of import from Azerbaijan, which exclusively consists of oil and gas, also went down by 75 percent or 110 million euros during the pandemic, compared to 440 million euros in 2019.
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