By Trend

The EU and Azerbaijan should prepare a cooperation plan until 2030, European Commissioner for Budget and Human Resources Gunther Oettinger told reporters in Baku May 31.

Azerbaijan’s potential in the oil and gas sector and alternative energy is impressive, he said.

Speaking about the development of alternative energy sources in Azerbaijan, Oettinger stressed great opportunities for the development of solar energy, hydropower and the development of biomass.

The European commissioner also stressed the importance of the Southern Gas Corridor in the development of cooperation between the EU and Azerbaijan, adding that Azerbaijan is being integrated into the energy union of Europe by entering the European gas market.

Oettinger stressed that the potential of the Southern Gas Corridor was slightly shaped in 2011, but today this project is a reality.

Gas from Azerbaijan will be supplied to the European market, Italy and Greece in 2020, but it is necessary to work out a further action plan in this direction, he added.

Oettinger also stressed the importance of attracting foreign investments to Azerbaijan, which will serve further development of energy efficiency.

Speaking about the development of bilateral cooperation between the EU and Azerbaijan, he mentioned agriculture as one of priority areas in this direction.

Baku has a favorable investment climate comparable to Paris, Monte Carlo and Moscow, Oettinger stressed.

The European commissioner said that Azerbaijan’s potential in agriculture is great and the EU would like to see an increase in the trade turnover of agricultural products between the EU countries and Azerbaijan.

EU is also ready to provide Azerbaijan with all the necessary equipment for the development of agriculture, Oettinger added.