Investments of EU countries in Azerbaijan’s economy exceed $15B - minister

By  Trend

Investments of the EU member countries in the Azerbaijani economy exceeded $15 billion, Azerbaijan’s economy minister, Chairman of the Azerbaijani State Commission on Cooperation with the EU Shahin Mustafayev said at a meeting with chairman of the EU-Azerbaijan Parliamentary Cooperation Committee, member of the European Conservatives and Reformists (ECR) Group, UK MP Sajjad Karim, Azerbaijan’s Economy Ministry said in a message May 9.

At the meeting, the sides underlined the development of cooperation between Azerbaijan and the EU.

The minister said that cooperation between Azerbaijan and the EU is successfully developing in the energy, transport, trade and other spheres, adding that the EU is one of the main trade partners of the country. More than 1,500 companies from the EU member countries operate in Azerbaijan, he noted.

Effective cooperation is carried out with the EU as part of various programs – Twinning, TAIEX Technical Assistance and Information Exchange, etc., he said.

Mustafayev added that along with other spheres, Azerbaijan attaches importance to cooperation with the EU in the transport and energy sectors, and noted that the Baku International Sea Trade Port in the Alyat settlement will be commissioned in the near future, adding that it will open wide opportunities for further expansion of cooperation in the transport sector.

At the meeting, it was stressed that the launch of the Baku-Tbilisi-Kars railway expanded the transport capabilities of Azerbaijan.

It was also noted that Azerbaijan, which is the initiator and main participant of the Southern Gas Corridor and the Baku-Tbilisi-Ceyhan projects, plays an important role in ensuring Europe’s energy security.