The Armenia-Austria business conference kicked off in Yerevan on Tuesday afternoon as part of Austrian President Heinz Fischer’s visit to Yerevan.

The event, organized by the Armenian Development Agency (ADA), was attended by the Austrian embassy’s commercial counselor, Ditman Fellner, and the ADA director, Robert Harutyunyan.

The participants were briefed on the investment environments in both countries and the free economic zones on the territory of Armenia.

Businessmen from Armenia and Austria are scheduled to meet after the conference. The event will enable the participants to propose business projects to one another, as well as push ahead with trade-economic partnership.

The estimated product turnover between the two countries totaled $ 50.5 million in 2011. The exports from Armenia made $ 2.7 million, while the imports amounted to $47.7.

Armenia mainly exported copper and copper-made products to Austria and imported pearl (natural and cultured), precious and semi-precious stones, precious metals, nuclear reactors, mechanical equipment, sugar and confectionary.