Switzerland is interested in supporting small and medium enterprises in Azerbaijan. This was said by the Swiss Ambassador to Azerbaijan Philip Stadler at a meeting with Economy Minister Shahin Mustafayev.
The press service of the Economy Ministry told Turan the Ambassador noted the desire of Swiss companies to participate in the activities of the Sumgait chemical and industrial park.
In March of this year the 7th meeting of the Joint Commission on trade-economic cooperation between Azerbaijan and Switzerland will be held in Baku.
According to the Ministry of Economy, Azerbaijan has 65 companies with Swiss capital.
In 2015, Switzerland’s exports to Azerbaijan increased by 2 times and amounted to $ 155 million. It imported goods for $ 94.3 million, or 40% less than in 2014. ------08D
Economics
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Azerbaijan Caspian Shipping Company (ASCO) has resumed regular cargo and passenger transportation after severe weather conditions disrupted operations in the Caspian Sea, the company said on Monday.
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Azerbaijan can overcome the so-called "middle-income trap" by increasing investments, improving the investment environment, and enhancing knowledge and skills, Deputy Minister of Economy Samad Bashirli said in Baku at the presentation of the World Bank’s Global Report World Development Report – 2024 (WDR).
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Countries in Europe and Central Asia must not only attract investment but also actively adapt and disseminate technology to ensure sustainable economic growth, according to Ivailo Izvorski, Chief Economist for the region at the World Bank. Speaking at the presentation of the World Development Report 2024, Izvorski highlighted structural issues that are slowing down private sector development.
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Azerbaijan is now among 54 middle-income countries, said Shahmar Movsumov, Head of the Department for Economic Affairs and Innovative Development Policy at the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku.
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