Volume of mutual investment between Azerbaijan and Switzerland revealed

To date, Switzerland has invested $48 million in the economy of Azerbaijan, and Azerbaijan has invested $29 million in the Swiss economy, First Deputy Minister of Economy of Azerbaijan Elnur Aliyev said at the Azerbaijan-Swiss business forum held in Baku, Report informs.

"The economic potential and development of Azerbaijan offer great prospects for the business of our country to invest in Switzerland. In this regard, the SOCAR brand successfully represents the Azerbaijani business in Switzerland. There are ample opportunities for increasing the economic turnover between Azerbaijan and Switzerland," he said.

According to the first deputy minister, in the context of the current complex regional geopolitical situation, Azerbaijan plays the role of a crucial link in Europe's energy supply.

"Azerbaijan is poised to play a greater role as a reliable energy supplier in the near future thanks to its abundance of renewable energy sources, as well as the infrastructure to deliver them. Azerbaijan and Switzerland's 'Memorandum of Understanding on cooperation in the field of energy' will allow further development of our relations," he added.

"Azerbaijan is also interested in attracting Swiss investments to innovative industries based on modern technologies in our country. The medium-term socio-economic development strategy for 2022-2026 pays particular attention to some elements, including green development, digital economy and innovative development," Elnur Aliyev stressed.