Baku, Azerbaijan, Aug.26
By Leman Zeynalova – Trend:
Azerbaijan’s plan to develop the non-oil sector will offer new interesting possibilities for Austrian companies, Austrian Federal Ministry for Digital and Economic Affairs told Trend.
“Azerbaijan’s current plan to develop the non-oil sector and focus on sectors such as infrastructure, water supply, renewable energy, agriculture, expansion of the railway system and environmental protection will offer new spheres of cooperation and interesting possibilities for Austrian companies in the future,” said the ministry.
Azerbaijan is an important trading partner for Austria within the Caucasus region, according to the federal ministry.
“Our bilateral trade volume reached 422 million euros in 2018. Generally, there is potential for developing and intensifying economic relations between Austria and Azerbaijan. 99.9 percent of imports to Austria from Azerbaijan consist of petroleum and petroleum products. The structure of Austria’s exports to Azerbaijan is more diverse and includes machinery and equipment, medical and pharmaceuticals products as well as iron and steel,” said the ministry.
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