First Contract between Azerbaijani and Austrian Companies Might Be Expected within a Month

Business Materials 5 December 2006 18:00 (UTC +04:00)

The Azerbaijani Government advocates the intense development of economic relations with Austria, Niyazi Safarov, Deputy Azerbaijan Economic Development Minister has said during the press-conference devoted to preliminary results of the negotiations, Trend reports.

According to him, during the visit, possibilities in the field of agriculture, economy, IT, protocol of the Azerbaijani-Austrian intergovernmental commission reflecting the investments to these spheres were discussed. He thinks that Austria sees the positive and dynamic development of Azerbaijan economy, and ready to take part in the implementation of different projects in the country.

According to the preliminary results of the negotiations, our entrepreneurs expressed their interest to come out to foreign markets, as well as to deliver know-how and new technologies to the country. Time is needed to work through commercial proposals, and first contracts are expected to be signed within the forthcoming month, said the Deputy Minister.

More than a year ago, we were in Azerbaijan with a smaller delegation, and only now contracts are being stroke. We do not consider that one is enough to establish partner relations. However, we consider Azerbaijan as an interesting place for our investments, and we would like to involve companies which would be interested in the proposals sounded during the business-forum, said the Chancellor of the Austrian Diplomatic Office to Russia.

According to him, the first contract to be signed till the end of the year. It has been elaborated for a year. That contract is expected to be linked with the Azerbaijan Culture Minister and will concern the reconstruction of museums and theatres in the country. The most urgent is the proposals which have been reflected in the protocol of the Commission such as reprocessing wastes, delivering medical equipment, etc.

The Chancellor of the Austrian Diplomatic Office to Russia thinks that there are no problems to open representation offices of Austrian companies in Azerbaijan. Azerbaijan is an open market, therefore companies with 100 percent Austrian capital or joint ventures can be formed. When opening dealer-firms, partners are not needed. Everything depends on the structure of business and the negotiations, he said.