Opening the forum, president of the Austrian Federal Economic Chamber Christoph Leitl congratulated President Ilham Aliyev on what he had done to ensure Azerbaijan`s development.

"Today a lot of huge projects are being realized in Azerbaijan," said Mr. Leitl, adding the projects cover a number of spheres and Azerbaijan has good potential for cooperation.

Austrian President Heinz Fischer described the business forum as an illustration of economic cooperation between the two countries.

He hailed the expansion of economic ties between Austria and Azerbaijan, saying Azerbaijan became a favorable market for his country.

President Heinz Fischer said the cooperation between the two countries covered a number of fields, including tourism, service and banking sectors. He stressed that the Azerbaijan-Austria business forum held in Baku in 2011 paved the way for the expansion of the bilateral relations, adding the current meeting of businessmen will be a good step towards development of the bilateral ties.

President Ilham Aliyev said Austrian companies were successfully working in Azerbaijan making their contribution to economic development of the country.
The Head of State said the Austrian companies were involved in a variety of areas in Azerbaijan, including restoration of architectural monuments, particularly Maiden Tower, a symbol of the country.

The President said Azerbaijan launched its own satellite, adding the major task was diversification of economy.

President Ilham Aliyev hailed energy cooperation with Austria, saying "Azerbaijan`s energy diplomacy is based on cooperation. It is no coincidence that Azerbaijan made history as the first country which opened the Caspian energy resources to the world."

"Today Azerbaijan plays a crucial role in the world energy security with its system of oil and gas pipelines."

President Ilham Aliyev said Austrian companies are "our main partners", and invited the Austrian businessmen to Azerbaijan.

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