Azerbaijan, Switzerland agree to increase turnover

Azerbaijan, Switzerland agree to increase turnover

Azerbaijan, Baku, Jan. 23 / Trend N. Ismayilova /

Azerbaijan and Switzerland have signed a protocol as a result of the fourth session of the joint commission on trade and economic cooperation of the Swiss Federal Council and Azerbaijan's government, which took place in Bern on January 18, Azerbaijan's Ministry of Economic Development said.

During the meeting Azerbaijan was represented by a delegation headed by a co-chairman of the commission - Minister of Economic Development Shahin Mustafayev. A co-chairman of the commission was a board member of the Swiss State Secretariat for Economic Affairs of the country Monika Ryuhul Burz.

In his speech, Mustafayev stressed that Swiss President Pascal Couchepin's visit to Azerbaijan in May 2008 and Azerbaijani President Ilham Aliyev's visit to Switzerland in October 2009 played an important role in the development of economic and political relations between the countries.

According to Mustafayev, at present, the required legislative and regulatory base was created between the two countries. It gives real opportunities to further expand trade and economic cooperation between Azerbaijan and Switzerland while using existing potential of the two countries.

During the meeting Azerbaijan delivered the Swiss side the extensive information on the work done in the field of expanding cooperation between the two countries in the period after the third meeting of the commission.

Swiss Co-Chair Monika Ryuhul Burz remained satisfied with the dynamics of economic relations and stressed the interest of Switzerland in the further expansion of trade and economic relations with Azerbaijan.

As a result of the fourth meeting of the joint commission on economic cooperation and trade Azerbaijan and Switzerland signed a protocol. The protocol envisages an increase of trade turnover between the two countries, as well as expanding of cooperation in such fields as industry, agriculture, finance and banking, investment, tourism, alternative energy.

During the meeting Azerbaijan and Switzerland discussed the current state of economic relations and prospects for cooperation in various spheres of economy between the two countries. During the fourth meeting of the joint committee the work conducted in the field of economic cooperation was discussed.

The Azerbaijani delegation included representatives of the foreign ministry, the ministry of finance, the ministry of justice, the ministry of taxes, the ministry of health, the ministry of culture and tourism, the Central Bank, Azersu Ltd and Meliorasiya və Su Teserrufatı Ltd.

During the visit, Shahin Mustafayev met with Swiss State Secretariat for Economic Affairs (SECO), Jean-Daniel Gerber. SECO's important role in the development of relations between the countries was stressed at the meeting. The agreement was reached to continue cooperation between Azerbaijan and SECO in such areas as macroeconomic policy, economic development and employment, supporting the private sector, trade and infrastructure.

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