Azerbaijan, Austria eye to diversify trade turnover

Azerbaijan and Austria need to increase the share of non-oil sector in bilateral trade, President of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov said during the Azerbaijani-Austrian business forum May 17 in Baku.

He said that the trade turnover between the two countries increased by 17 percent in 2017, compared to 2016.

Mammadov noted the interest of the countries in the development of economic relations in various directions.

"As for investment cooperation, Austrian companies invested $73 million in Azerbaijan's economy," he said. "Azerbaijan, in turn, invested $60 million in the Austrian economy."

He added that about 70 companies with Austrian capital operate in Azerbaijan.

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