There is significant potential for further expanding economic and trade relations between Azerbaijan and Switzerland, and the activities of the Joint Trade and Economic Cooperation Commission play an important role in this regard, Azerbaijani Foreign Minister Jeyhun Bayramov said at a joint press conference with Swiss Federal Councillor, Head of the Federal Department of Foreign Affairs and OSCE Chairperson-in-Office Ignazio Cassis, APA reports.
The minister said that the intensification of political dialogue between the two countries also creates a favorable basis for the development of economic cooperation. He recalled that the latest round of political consultations was held in Baku in April this year, and that the sides agreed to continue this mechanism on a regular basis.
"I would particularly like to highlight the activities of the Joint Trade and Economic Cooperation Commission in the context of expanding Azerbaijan-Switzerland economic relations. The Commission's next meeting is scheduled to be held this autumn. We believe this meeting will provide an additional boost to expanding cooperation in the fields of economy, trade, investment and other areas," Jeyhun Bayramov said.
According to the minister, the energy sector remains one of the main pillars of Azerbaijan-Switzerland economic relations, and the successful cooperation in this field serves as an example for other areas.
Jeyhun Bayramov stressed that the existing potential for increasing bilateral trade turnover should be fully utilized.
"When we look at the statistics, we see that exports from Azerbaijan to Switzerland exceeded $60 million last year. Imports from Switzerland to Azerbaijan amounted to approximately $1 billion. These figures demonstrate the considerable potential for further diversifying economic relations and balancing bilateral trade," the minister noted.
He added that, alongside energy, the two sides are also interested in expanding cooperation in innovation, high technologies, science, education, and other areas.
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