Azerbaijan, Austria sign protocol on deepening of economic cooperation

The press service for the Azerbaijan's Ministry of Economic Development told Day.Az that during the session our country was represented by a delegation led by Economic Development Minister Heydar Babayev.

The Azerbaijani delegation included representatives of the Ministries of Foreign Affairs, Agriculture, Industry and Energy, Youth and Sport, Economic Development, Culture and Tourism, National Bank and others.

At the session the sides exchanged views on the potential of bilateral cooperation, stressed importance of raising commodity turnover, exchange information and experience.It was noted that in 2007 the commodity turnover made $49.1 mln, which is a 15.5% higher as compared to 2006.

The sides stressed importance of holding business-forums, exhibitions and fairs for the purpose of support of cooperation. Presentations of the capacities of Austrian companies in the sphere of energy, food industry, medicine and tourism were held during the meeting.

By results of the discussions the sides signed a protocol of the fifth session of the Mixed commission on cooperation between Azerbaijan and Ausria on economy,agriculture, industry, technique and technologies. The document was signed by Azerbaijan's Minister of Economic Development H.Babayev and general director on external economic ties of the Austrian Federal Ministry of Economy and Labor Johann Zahs.

In line with the document, the sides will make efforts to deepen economic ties. The protocol reflected Austria's support to Azerbaijan's accession on the World Trade Organization.

Moreover, the document covered spheres of cooperation on consideration of issues in creation of joint ventures, strengthening of ties between the regions of Azerbaijan and federal lands of Austria and other issues.

In the framework of the visit to Vienna Heydar Babayev met with federal minister of economy and labor Martin Bartenstein and discussed prospects of cooperation. The Azerbaijani delegation visited enterprises of Vienna and Styria.

/Day.Az/