Switzerland is interested in the potential of economic cooperation with Azerbaijan

Switzerland is interested in expanding cooperation with Azerbaijan, whose potential is great, said at a meeting with Minister of Economic Development Shahin Mustafayev in Baku on April 12, Federal Adviser, Head of the Federal Department of Economic Affairs, Education and Research, Johann Schneider-Amman.

The press service of the Ministry of Economic Development after the meeting said that the head of the delegation of the Swiss Government urged businessmen accompanying him and the Azerbaijani private sector to tap the potential business cooperation.

The Minister, in turn, mentioned the role of the joint governmental commission on trade and economic cooperation in the development of relations between the two countries. There has been established the legal basis of these relations: there are more than 29 bilateral agreements.

In Azerbaijan, there are more than 700 companies with Swiss capital. These companies invested in the economy of investments totaling $ 877 million special place among these companies is the company "Holcim". Azerbaijani companies are also showing interest in the Swiss economy. Only SOCAR has invested in the economy of this country 380 million Swiss francs. Trade turnover between the two countries for the first two months of this year increased by 2.9 times, Mustafayev said.

According to the State Customs Committee of Azerbaijan, in 2012 the trade turnover between Azerbaijan and Switzerland was $ 215 million, a decrease of 40%. Azerbaijan had a negative balance of trade with Switzerland in the amount of $ 51 million. - 08D-