(MENAFN- AzerNews)
Fatima Hasanova read more A regular ministerial meeting of the EU's Eastern Partnership
(EaP) member nations is underway in Brussels today, Azernews
reports.
Azerbaijani Foreign Minister Jeyhun Bayramov is also attending a
meeting of the foreign ministers of the European Union's (EU)
Eastern Partnership (EaP) countries.
EU High Representative for Foreign Affairs and Security Policy
Josep Borrell is chairing the meeting. The meeting is focusing on
the implementation of the Economic and Investment Plan as well as
the future of the Eastern Partnership, security issues, and the
consequences of the conflict in Ukraine for the entire region.
The EU and Azerbaijan cooperate in different sectors of the
economy.
A joint statement on energy cooperation with the EU had been
signed for more than ten years. The EU-Azerbaijan energy
cooperation had 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.
The 8th ministerial meeting of the Southern Gas Corridor
Advisory Council, held in Baku on February 4, reaffirmed Azerbaijan
and the European Union's strategic energy partnership, which is
based on shared goals for long-term energy security, supply
security, and green energy transition.
Azerbaijan prioritizes equal and mutually beneficial cooperation
with the European Union. In 2021, Azerbaijan and the EU will have a
trade turnover of $15.2 billion. At the same time, from 2012 to
2021, the EU invested more than $21.5 billion in Azerbaijan's
economy.
As part of its economic investment plan, the European Union (EU)
has provided Azerbaijan with a €2 billion financial package.
Furthermore, the EU stated its readiness to participate in
Azerbaijan's restoration and reconstruction efforts.
In February 2008, the European Commission Delegation to
Azerbaijan was established in Baku.
The Eastern Partnership program was launched by the EU in 2009.
Its main goal is the development of regional cooperation with six
countries: Azerbaijan, Armenia, Belarus, Georgia, Moldova, and
Ukraine.
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