Countries of the European Union have invested about $15 billion in the Azerbaijani economy since 2012, said Azerbaijan’s Economy Minister Shahin Mustafayev at a meeting with European Commission Director General for Mobility and Transport Henrik Hololei in Baku.
More than 40 percent of Azerbaijan’s trade turnover account for the EU countries, said the minister. Meanwhile, more than 1,400 European companies operate in Azerbaijan, he added.
Mustafayev said that Azerbaijan signed an agreement on elimination of double taxation with 24 EU member states, and signed documents on the promotion of investments and their mutual protection with 17 countries, a declaration on strategic partnership with nine countries, and there are joint intergovernmental commissions with 16 EU member states.
The minister emphasized that Azerbaijan and the EU cooperate successfully in the sphere of energy, and in this regard, the Southern Gas Corridor (SGC) project is of great importance.
He also noted that Azerbaijan is interested in expanding the cooperation with the EU in transportation field.
According to Azerbaijan’s State Customs Committee, trade turnover with the EU countries amounted to $9.4 billion in 2017 that is by 52.35 percent more than in 2016.
Azerbaijan exported goods worth $7.45 billion to the EU countries in 2017.
