Finance

Finance

Baku hosts Azerbaijani-Switzerland joint commissionâ€™s meeting - PHOTO

Baku hosts Azerbaijani-Switzerland joint commissionâ€™s meeting - <font color=red>PHOTO</font>

08 December 2011 10:24 (UTC +04:00)

The commission chaired by Azerbaijani Minister of Economic Development Shahin Mustafayev includes high-ranking officials of Ministries of Foreign Affairs, Finance, Justice, Taxes, as well as The CBA, Azersu OJSC, Azerbaijani embassy in Switzerland. The commission chaired by member of the board of directors of the State Secretariat for Economic Affairs of Switzerland, Ambassador Eric Martin includes representatives of appropriate state bodies.

Delivering speech at the event Mustafayev spoke about successful development of relations between Switzerland and Azerbaijan. He noted that trade turnover between the two countries in January-October increased by 39%: â€œNevertheless, there are opportunities for further extension of trade turnoverâ€.

â€œIn 1995-2010, Swiss companies invested $61 mln in non-oil sector of Azerbaijan. The activity of Swiss Holcim company must be specially noted in this regard. This company realizes the construction project of new stove at Garadag Cement Plant. The stove will be put to operation in May, 2012â€, he added.

â€œOne of the main directions of the cooperation between our countries is the cooperation with SECO. SECO implemented 25 projects so far.

In turn, Martin expressed that Switzerland paid great importance to relations with Azerbaijan and was interested in deepening of the cooperation. He gave information about the current state of Swiss economy and its international relations.

Finally, Minister of Economic Development Shahin Mustafayev and member of the board of directors of the State Secretariat for Economic Affairs of Switzerland, Ambassador Eric Martin signed a protocol on results of the commissionâ€™s 5th meeting. The document reflects the intention of extension cooperation in industry and power engineering, trade, capital investment, agriculture, banking and finance, culture, tourism and other spheres.