Azerbaijan, Baku /corr. Trend I.Khalilova / Azerbaijan's Minister of Economic Development, Heydar Babayev, said on 20 September at a meeting with the Minister of Economy and Labor of Austria, Martin Bartenstein that Azerbaijan is prepared to organize a visit of a large economic delegation to Austria within the next meeting of the Azerbaijani-Austrian Inter-Governmental Commission for Economic Cooperation in 2008.
"I think that until that time we may collect business people which will provide an opportunity to combine the meeting with a business-forum," Babayev said.
The Austrian delegation who is to visit Azerbaijan invited a high-ranking economic delegation to make a visit to Vienna in the first half of 2008. Such a proposal was made to the large interest of the Austrian companies who wish to enter Azerbaijan's market. Therefore, an opportunity is needed to introduce them to the tax and legal systems and business climate of Azerbaijan. It will provide an opportunity to expand the number of the sectors for participation and attract companies who have not been represented in the current delegation of Austria which arrived in Baku on 19 September.
In addition, the parties highlighted the role of Azerbaijan's diplomatic mission in Austria which supports contacts and organizes presentations of the Azerbaijani economy in Austria.
As a result of 2006, the gross amount of trade turnover between Azerbaijan and Austria exceeded €46mln (according to the Austrian data, €100mln including the energy sector) which according to the Austrian Minister, is only the beginning. In the first half of the year, the trade turnover totaled €12mln.
The co-chairs of the Azerbaijani-Austrian Inter-Governmental Commission are the Minister of Economic Development, Heydar Babayev and Austrian Economy and Labor Ministry's Director General for Foreign Economic Affairs, Johann Zaks.