Azerbaijan-Switzerland trade turnover grows 39% this year
Baku, December 11(AZERTAC). The trade turnover between Azerbaijan and Switzerland increased 39% in January-October.
The statement came from Economic Development Minister of Azerbaijan Shahin Mustafayev.
There are greater opportunities to increase the trade turnover, he said.
“The biggest investment on part of Swiss companies has been made in construction of a new furnace in Garadagh Cement plant which costs EUR 300 million. The project is expected to be fully launched in May 2012,” the minister said.
Mustafayev also emphasized the cooperation with the State Secretariat for Economic Affairs of Switzerland, SECO, as one of the important directions of cooperation between the two countries.
“SECO has implemented 25 projects in Azerbaijan so far. Twelve projects are still under implementation.”
Member of the board of the Swiss Secretariat for Economic Affairs, Ambassador Eric Martin said the trade turnover between Azerbaijan and Switzerland totaled 1bn Swiss francs, in other words, EURO 900m in 2010.
Switzerland mainly imports energy from Azerbaijan while Azerbaijan imports technology products from Switzerland for the most part, Martin added.
A final protocol between Azerbaijani-Swiss intergovernmental commission on trade and economic cooperation was signed at the end of the fifth session. The documents were signed by co-chairmen of the session - Azerbaijani Economic Development Minister Shahin Mustafayev and member of the Swiss State Secretariat, Ambassador Eric Martin.
The protocol envisages the expansion of cooperation between Azerbaijan and Switzerland in industry, energy, trade, investments, agriculture, banking, finance, culture, tourism and other spheres.
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