On May 26, the 6th meeting of the Joint Commission on Trade and Economic Cooperation between the Government of the Republic of Azerbaijan and the Swiss Federal Council was held in Bern. The meeting was attended by the co-chairs of the Joint Commission – the Minister of Economy and Industry Shahin Mustafayev and the representative of Federal Council on Trade Agreements (SECO) of Swiss State Secretariat for Economic Affairs Libyan Leu, as well as the officials of the relevant agencies of the two countries represented in the committee.
The co-chair of the Joint Commission, the Minister of Economy and Industry Shahin Mustafayev highlighted that Azerbaijan attaches great importance to relations with Switzerland, as well as hailed the importance of mutual visits of heads of states and the agreements reached during these visits in the development of cooperation between the two countries.
The necessary legal framework was established between the two countries, more than 20 bilateral documents, including the promotion and reciprocal protection of investments, trade and economic cooperation, the avoidance of double taxation were signed. 81 companies with Swiss capital are operating in service, industry, trade, construction, transport, communications, financing and other spheres in Azerbaijan.
Azerbaijan is known as a reliable partner in the world today and has trade relations with more than 150 countries. Over 50 percent of the foreign trade turnover falls into the share of European countries. Last year the trade turnover between Azerbaijan and Switzerland increased by 8.5%.
The Minister Shahin Mustafayev pointed out that non-oil sector was the priority area of the economy of Azerbaijan and Switzerland invested 185.3 million U.S. $ to this sector during 1995-2013.
It was noted that so far, 70 million U.S. $ has been granted to Azerbaijan by the Swiss government. Including regional projects, 32 projects were carried out in Azerbaijan by SECO. The implementation of 15 projects has already been completed. Currently, 17 projects are under implementation. Within the framework of the "Investment climate in Azerbaijan" project carried out jointly, the law drafts on licenses and permits, regulation of inspections in the field of entrepreneurship and the protection of entrepreneurs' interests were prepared and electron information portal of permissions was established.
At present, Azerbaijan is an investment exporter and Azerbaijan has invested into a number of European countries, along with the neighboring countries, including Switzerland. For example, SOCAR has acquired Ecco Schweiz, a division of the US oil giant ExxonMobil in Switzerland and received a chain of 150 fuel stations in Switzerland.
Mr. Mustafayev gave information on the work done during the 5th session of the Joint Commission and the measures taken to expand economic ties during this period. An agreement on technical assistance for the modernization of capital markets between the governments of the two countries was signed and the memorandum on cooperation between "Switzerland Global Enterprise" of Switzerland and AZPROMO. Furthermore, the successful activity of "Holcim" company of Switzerland in Azerbaijan, as well as the commissioning of new cement plant of "Holcim-Azerbaijan" OJSC, based on the dry process technology in 2012 was highlighted at the meeting. The water supply and sewerage systems in the cities of Ganja and Shaki have been reconstructed and the construction of a part of water supply systems in Ganja has already been completed. Azerbaijan has successful relations with Switzerland in the field of the energy, agriculture, financing, culture and tourism and health care.
Speaking about future cooperation directions the Minister Shahin Mustafayev hailed the opportunities for expanding cooperation in the fields of industry, agriculture, financing and banking, tourism and other spheres, as well as highlighted the importance of business forums, exhibitions and fairs for promotion of ties among businessmen.
The representative of Federal Council on Trade Agreements (SECO) of Swiss State Secretariat for Economic Affairs Mrs. Libyan Leu noted that Switzerland was interested in boosting relations with Azerbaijan and highlighted the assurance for further developing economic ties between the two countries. Moreover, Mrs. Leu emphasized the significance of the discussion held at the meeting of the Joint Commission in the development of cooperation between the two countries. At the end of the meeting the Protocol on the results of the 6th meeting of Joint Commission on Trade and Economic Cooperation was signed between the Republic of Azerbaijan and the Federal Council of the Swiss Confederation by the co-chairs of the Joint Commission – the Minister of Economy and Industry Shahin Mustafayev and the representative of Federal Council on Trade Agreements (SECO) of Swiss State Secretariat for Economic Affairs Libyan Leu. The protocol is intended to expand cooperation in industry, trade, investment, agriculture, water, energy, health care, environmental protection, tourism, transport and other sectors.
Then, Switzerland-Azerbaijan business forum was held. About 30 companies operating in food industry, agriculture, construction, energy, tourism, ICT, health and other spheres in Azerbaijan, in general, more than 120 businessmen from both sides took part in the forum.
Speaking at the forum the Minister of Economy and Industry stressed successful development of economic cooperation and the role of the private sector in expanding ties between the two countries. Mr. Mustafayev delivered information on the economy of Azerbaijan. It was noted that, Azerbaijan is a reliable partner, economic and cultural center in the South Caucasus; a political and macroeconomic stability was maintained in the country and the country has a favorable geographical position. Furthermore, favorable conditions were created for investors in the country and Azerbaijan's economic successes are highly appreciated by the international organizations. Mr. Mustafayev noted that Azerbaijan is the initiator and active participant in major energy and regional transportation projects and plays an important role in ensuring the energy security of Europe.
The Minister highlighted today's business forum in terms of the expansion of economic ties and establishment of new cooperation between Azerbaijan and Switzerland, as well as invited Swiss companies to take an active part in the implementation of investment projects in Azerbaijan.
The representative of Federal Council on Trade Agreements (SECO) of Swiss State Secretariat for Economic Affairs Libyan Leu spoke about the economy of the country and the measures taken to enhance the relations between the businessmen.
Executive Director of the Swiss-CIS Chamber of Commerce and Industry Mrs. Dorrit Sallis, Azerbaijan Ambassador to Switzerland Akram Zeynally hailed Azerbaijan –Switzerland relations in the business forum. Furthermore, the head of AZPROMO Rufat Mammadov made a presentation on business and investment opportunities of Azerbaijan.
Within the framework of the business forum a Memorandum of Understanding was signed between Azerbaijan Export and Investment Promotion Foundation and Swiss Joint Chamber of Commerce in Russia and the CIS countries.
Business forum ended with a question-and-answer session.