EU Stresses Importance of Discussing Cooperation With Baku in Energy, Transport

The head of the Delegation of the European Union to Azerbaijan emphasized the importance of regular discussions of cooperation between the European Union and Baku in transport and energy sphere, local media reported.

MOSCOW (Sputnik) —  Malena Mard, talking about the significance of transport and energy cooperation, said that the issues of railways, ports and other transport facilities were particularly important for the EU-Azerbaijan cooperation, according to the Trend news agency.

Since 2008, Baku and Brussels have been cooperating within the framework of Eastern Partnership, an EU program seeking to establish closer ties between the European Union and several former Soviet republics. The partnership implies increase in integration with the bloc and financial aid flows, strengthening energy security and stipulation of the liberalization of visa regimes with the participating nations.

The European Union is the major trade partner of Azerbaijan, as solely in 2015 the share of the turnover between Baku and Brussels accounted for 47.5 percent of Azerbaijan’s total foreign trade. Over the last 10 years EU investors contributed $20 billion in fixed capital in Azerbaijan, involving $2,7 billion invested in the oil sector.