Armenia-Austria Business Forum

To strengthen the trade economic cooperation and expand the business relations between Armenia and Austria as well as to discover the investment opportunities, Armenia-Austria business forum was organized by Armenian Development Agency in the framework of the official visit of President of the Austrian Republic, Mr. Heinz Fischer to the Republic of Armenia on June 26th, 2012.

The Commercial counselor of the Austrian Embassy in Moscow Mr. Ditmar Fellner, General Director of Armenian Development Agency, Mr. Robert Harutyunyan, Regional Director CIS of Austrian Federal Economic Chamber, Mr. Heinz Walter, Representatives of Austrian Development Agency, Mr Gunter Schall and Mr. Alexander Bohr delivered speeches and presentations on Investment climate of Austria and Armenia, as well as Armenia’s Free Economic Zone.

15 companies from different industrial sector of Austria have arrived to participate in the business forum: complex equipping of sport complexes, industrial lead batteries production, cleaning means production for domestic and industrial sectors, processing of plastic withdrawals, meat industry and fish processing industry technologies and equipments, financial and information services in export field, energy, health, industrial installation of black metallurgy, development of passes system, food and chemical, wood processing industry, construction of hospitals and equipping, medical complex equipment, logistics, production of mobile flour grinding factory, production of artificial snow.

Prior to business forum, the Austrian businessmen had business meetings with the representatives of Ministries of Agriculture, Energy and Natural Resources, Transport and Communication, Emergency Situations, Health, Sport and Youth Affairs, Labor and Social Affairs, Central Bank, Nasdaq-Omx. Also, the Austrian businessmen met their Armenian partners in the corresponding sectors.

The forum was an opportunity to the Armenian businessmen to present their business proposals, as well as to contribute to the development of trade economic relations.

The speeches were delivered y the Ministries of Economy of both countries, Mr. T. Davtyan and Reinhold Mitterlehner, presidents of the countries, Mr. S. Sargsyan and Mr. Heinz Fischer.

Memoranda and agreements were signed in presence of the presidents of both countries. The Chamber of Commerce of the Republic of Armenia and Austrian Federal Economy chamber signed a cooperation agreement, Credit agreement was signed between the Ministry of Finance fo the Republic of Armenia and Austrain "Raiffeisen" bank for a 8 mln credit with a low interest rate, and Cooperation agreement between ASKE group and Austrian "Siemens Vai" metallurgy technological company.

The trade turnover between Austria and Armenia in 2011 made 50.5 mln USD. The export makes 2.7mln USD and import makes 47.7mln USD.

The main articles of export are: copper and goods made from copper, black metals, aluminum and goods made from aluminum. The main articles of import are: natural and artificial pearls, precious and semi-precious stones, precious metals, nuclear reactors and mechanical equipment, sugar and confectioner made from sugar.