Baku, Azerbaijan, July 9
By Anvar Mammadov - Trend:
Switzerland has invested $730 million in the economy of Azerbaijan to date, Azerbaijani Economy Minister Shahin Mustafayev said July 9 during the Azerbaijani-Swiss business forum in Baku.
He noted that, more than 70 companies with Swiss capital are functioning in the country.
"The two countries are actively developing investment cooperation, which is also confirmed by the volume of Azerbaijani investments in the Swiss economy, which reached $1.2 billion. Most of these funds are investments of the Azerbaijani state company SOCAR," Mustafayev said.
Touching upon the trade cooperation between the two countries, the minister noted that the trade turnover between Azerbaijan and Switzerland has increased by 82 percent in the first five months of 2018. Azerbaijan has increased its exports to Switzerland by 42 percent during the reporting period.
"The trade turnover between our countries amounted to $ 240 million in 2017, having increased by 46 percent as compared to 2016. Azerbaijan's non-oil exports to Switzerland are also gradually increasing. In general, Switzerland occupies one of the leading places in non-oil exports of Azerbaijan," Mustafayev said.