Azerbaijan, Austria hold business forum to explore every avenue for expanding co-op

By Azernews

The Azerbaijani-Austrian business forum has been held as part of the 10th meeting of the joint commission on economic, agricultural, industrial, technical, and technological cooperation between the two countries, in Baku on May 16, Azernews reports.

Speaking at the forum, Azerbaijan's Digital Development and Transport Minister Rashad Nabiyev expressed confidence that the business forum would be useful for expanding cooperation between the two countries. He added that the forum would be beneficial for creating new opportunities for mutual investment and called on entrepreneurs to active cooperation.

Austrian Federal Economic Chamber Vice-President Richard Schenz briefed about the development of economic and trade relations between the Azerbaijani and Austrian business circles and noted the role of effective use of existing opportunities in the development of bilateral relations.

Moreover, Azerbaijan’s Export and Investment Promotion Foundation Head Yusif Abdullayev spoke about the favorable business and investment climate in Azerbaijan, the expansion of exports, the "Made in Azerbaijan" brand, and measures taken to promote foreign investment.

Chairman of the Alat Free Economic Zone Board of Directors Valeh Alasgarov informed the participants about the main objectives and future goals of the economic zone.

During the business forum, presentations were made on the business and investment climate in Azerbaijan and Austria. The forum continued with bilateral meetings between businessmen.

Along with Azerbaijani and Austrian officials, the business forum organized by the Azerbaijan Export & Investment Promotion Foundation, with the support of the Ministries of Economy and Digital Development and Transport of Azerbaijan brought together entrepreneurs working in the energy, transport, and logistics sectors, information technologies, healthcare, packaging industry, road infrastructure improvement, consultancy services, construction, mechanical engineering, chemical industry, pharmaceuticals, etc.

The trade turnover between Azerbaijan and Austria amounted to $220.6 million in 2021.