Azerbaijan, Switzerland ink MoU on cooperation

By Azernews

By Ayya Lmahamad

Azerbaijan’s Small and Medium Business Development Agency (SMBDA), Switzerland-Eastern Europe, Central Asia, South Caucasus Joint Chamber of Commerce (JCC), and Swiss Alternative Financing have signed a memorandum of understanding and cooperation, Azernews reports.

The memorandum was signed during a roundtable on the topic “Azerbaijan 2022: a source of energy and a logistics center for Europe and Asia” which was held in Geneva.

The event was organized with the help of the Geneva Chamber of Commerce, Industry and Services (CCIG), Switzerland- Eastern Europe, Central Asia, South Caucasus Joint Chamber of Commerce (JCC), Small and Medium Business Development Agency, and SOCAR Trading.

Azerbaijani Ambassador Fuad Iskandarov, SMBDA’s Board Chairman Orkhan Mammadov, Geneva Chamber of Commerce, Industry and Services (CCIG) Director Nathalie Hardyn, Switzerland-Eastern Europe, Central Asia, South Caucasus Joint Chamber of Commerce’s Managing Director Dorit Sallis, head of State Secretariat for Economic Affairs(SECO) Departments on the South Caucasus and other countries Seraina Sigron, SOCAR Trading representative Taghi Taghizada spoke at the roundtable.

Azerbaijan’s Export and Investment Promotion Agency and M&M Swiss watch company held presentations on the support of Azerbaijan's SMBDA, investment potential, logistics, and energy opportunities of Azerbaijan.

Moreover, as part of the visit to Geneva, Orkhan Mammadov also held a meeting with Switzerland-Eastern Europe, Central Asia, South Caucasus Joint Chamber of Commerce’s Managing Director Dorit Sallis. They exchanged views on possible joint initiatives of SMBDA and JCC to expand relations between businessmen of both countries.

Diplomatic relations between the two countries were established on January 21, 1992.

Azerbaijan and Switzerland cooperate in various economic sectors. There is mutually beneficial cooperation between Baku and Bern in the non-oil sector. In addition, Baku will host a meeting of the Commission on Trade and Economic relations between Switzerland and Azerbaijan in 2022.

The trade turnover between the two nations amounted to $457.2m in 2021, with exports accounting for $272.5m and imports for $184.7m.