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Austria-Azerbaijan Commerce Chamber to establish arbitral organization

Business Materials 16 March 2010 14:55 (UTC +04:00)

Azerbaijan, Baku, March 16 / Trend N.Ismayilova

An arbitral structure will be established in the Austria-Azerbaijan Commerce Chamber (ATAZ), director general of a joint venture of the Baku Law Center, and LANSKY, GANZGER + partners Anar Bagirov said at ATAZ press-conference in Baku held in AMI TREND conference hall. He will become ATAZ board member soon.

"The arbitral organization will appear to provide adequate legal protection of Azerbaijani and Austrian companies as a part of ATAZ ", Bagirov said.

According to ATAZ vice-president and head of law firm LANSKY, GANZGER + partners Gabriel Lansky, Austria and Azerbaijan are also working together to optimize the legislation, ensure the most effective entry of the business communities to the markets of these countries.

According to ATAZ Honorary President and Azerbaijani Ambassador to Austria Fuad Ismayilov, about 30 Austrian companies such as Austrian Airlines, OMV and Strabag operate in Azerbaijan.

Today, trade turnover between the countries is about 100 million euros, which does not correspond to the potential that exists today between the countries.

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