ArmInfo.Memorandums on bilateral cooperation in energy and in the tourist industry were signed on the sidelines of the Armenian-Austrian business forum in Yerevan on Wednesday.
The memorandums will serve as a basis for energy cooperation between Voith Hydro (Austria) and International Power Corporation (Armenia), and for cooperation in the tourist industry between Doppelmayr (Austria) and Myler Mountain Resort.
Austrian FM Alexander Schallenberg stressed that any bilateral relations cannot be considered full-fledged without business ties.
The signed memorandums are evidence that the grounds are being laid for further work, he said. Mr Schallenberg highlighted the importance of an Armenian delegation's reciprocal visit to Austria to get acquainted with the specific features of Austria's economy, with SMEs in the form of family businesses being its backbone.
In this context, Mr Schallenberg pointed out that the cooperation programme was postponed because of the COVID-19 pandemic. "Our goal is to overcome the crisis and become stronger. It must stimulate development. In this respect, Armenia is on our map," he said.
About 20 Austrian companies participated in the business forum.
Last January-November, the Armenian-Austrian trade turnover totaled $22.9mln (down by 7.1%). Exports totaled $1.7mln (down by 53.6%) and imports $21.2mln (up 1.1%).
In 2015, the Austrian Development Agency launched the Organic Agriculture Support Initiative (OASI) in Armenia. The EUR 3.3mln project was aimed at organic agriculture development and sale of Armenian organic products both in the domestic and foreign markets.
