YEREVAN. – President of Austria Heinz Fischer and his spouse will arrive in Armenia on Monday. An Armenian-Austrian business forum with the participation of businessmen from both countries is on the agenda.

Bilateral trade relations are not so significant. According to Armenian National Statistical Service, trade turnover last year made about $50 million, which is just 0.9 percent of Armenia’s foreign trade turnover. Moreover, it reduced by $10 million as compared to the previous year.

Armenia – Austria trade balance is sharply negative: exports in 2011 amounted to $ 5 million, while import - $ 45 million

This year, trade turnover between the two states was not so active. According to customs service statistics, trade with Austria is not so diversified. Armenia mainly imports gold from Austria, which makes 70 percent of the imported volume, and exports mainly postal stamps (98%).