Azerbaijan is Switzerland's main trading partner in the South Caucasus. Switzerland mainly exports jewellery products (precious stones, precious metals), machinery, watches, security printing products and pharmaceutical products to Azerbaijan. In 2019, trade between Switzerland and Azerbaijan amounted to CHF 287 million, a year-on-year increase of CHF 50 million. Switzerland is also one of the largest investors in the non-oil sector and supports Azerbaijan's efforts to diversify its economy. A Swiss company is involved in the construction of the Trans Adriatic Pipeline (TAP), which is expected to transport Azerbaijani natural gas to Italy by the end of 2020.
The Azerbaijani state-owned energy company SOCAR has a subsidiary in Switzerland. In 2012, SOCAR Energy took over ESSO Switzerland's network of 172 petrol stations.
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