Azerbaijan, EU Discuss Setting Up A Working Group In Investment Identification Area
Date
7/13/2022 7:08:32 AM
(MENAFN- AzerNews)
By Ayya Lmahamad
Azerbaijan and the European Union have discussed the creation of
a working group in the sphere of investment identification,
Azernews reports.
The discussion took place during the meeting between
Azerbaijan's Economy Minister Mikayil Jabbarov and Director for
Eastern Neighbourhood and Institution Building at the European
Commission Lawrence Meredith.
During the meeting, the parties also discussed investment
opportunities and potential projects in the private and public
sectors.
'During the meeting with Lawrence Meredith (@LMeredithEU),
director for Eastern Neighbourhood (@eu_near) and Institution
Building at the European Commission, we discussed cooperation with
the #EuropeanUnion, creation of a working group in the field of
#investment identification, as well as investment opportunities and
potential projects in the private and public sectors,' Jabbarov
wrote on his official Twitter page.
The EU and Azerbaijan have cooperation in different sectors of
the economy. The EU invested over $21.5 billion in Azerbaijan's
economy from 2012 to 2021. Azerbaijan's trade turnover with the EU
amounted to $9.3 billion last year, which is 38 percent of the
country's foreign trade. The Delegation of the European Commission
to Azerbaijan was opened in Baku in February 2008.
Azerbaijan started commercial gas supplies to Europe through the
Trans-Adriatic Pipeline (TAP) on December 31, 2020.
A joint statement on energy cooperation with the EU was signed
more than ten years ago. The EU-Azerbaijan energy cooperation has
reached a new level and is still ongoing within the framework of
the Southern Gas Corridor. The EU places a high value on energy
supply diversification, and the Southern Gas Corridor is
particularly important in this regard. In 2021, European countries
purchased 8.2 billion cubic meters of gas, with an increase in
volume expected in the coming years.
Additionally, the European Union is preparing to sign an
important memorandum on energy with Azerbaijan on July 18.
--
Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
Follow us on Twitter
@AzerNewsAz
- Tags:
- Azerbaijan
- European Union
- investment
- Mikayil Jabbarov
- Working group
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