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Azerbaijan’s investment in Switzerland amounts to $2.6 billion

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By Ayya Lmahamad

Azerbaijan’s investment in Switzerland amounted to $2.6 billion as of October 26, Azerbaijani Ambassador to Switzerland Fuad Iskandarov said at a press conference in Geneva, reports Azernews by Trend.

Noting that it is gold that is mainly exported, he added that oil supplies have also started recently. In this regard, he noted that Europe is the main direction of Azerbaijan’s energy exports.

“The country is one of Europe’s main gas suppliers and plans to double its supplies over the next five years,” he said.

Traffic in the middle corridor

The Ambassador also said that the volume of traffic on the Trans-Caspian International Transport Route, also known as the Intermediate Corridor, increased by 77% between January and September 2022.

“The question of increasing the capacity of this corridor is on the agenda and there are already plans for this with partners,” he said.

Cooperation with regional partners

Fuad Iskandarov stressed that Azerbaijan is a country which has established close cooperation with its regional partners. In this regard, he stressed that Azerbaijan is also continuing the process of a peaceful settlement with Armenia.

“It is here, in Switzerland, that the first direct meeting of the Foreign Ministers of Azerbaijan and Armenia took place, without any external mediation. We are proud of it and hope that such positive developments will continue” , did he declare.

In addition, the Ambassador said that the trilateral format of Azerbaijan-Georgia-Armenia cooperation is very important for the development of the region.

“Transport cooperation between Azerbaijan and Georgia is very well developed and the volume of transit traffic in the region is increasing. Currently, Azerbaijan and Georgia are working on developing their transport potential , why should Armenia not join? I think it will be beneficial for the whole region,” he said.

Attacks on the embassy building

Fuad Iskandarov added that the embassy is cooperating closely with the country’s law enforcement agencies to prevent attacks on the embassy building.

“Amid the number of attacks on Azerbaijani embassies around the world, this issue remains relevant,” he said.

He recalled that during his tenure in Brussels, the recently opened building of the Azerbaijani Embassy in Belgium was attacked.

“Six employees were injured and the damage to the building amounted to €49,000. Therefore, the Azerbaijani Embassy in Switzerland has started working actively with local law enforcement to prevent similar cases,” did he declare.

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 for Trade and Economic Relations between Switzerland and Azerbaijan in 2022.

Trade turnover between the two countries stood at $457.2 million in 2021, with exports accounting for $272.5 million and imports accounting for $184.7 million.

Ayya ​​Lmahamad is the journalist of AzerNews, follow her on Twitter: @AyyaLmahamad

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