Azerbaijan-EU trade increased 15 percent in four months of this year

Baku, June 5, AZERTAC

“Trade between Azerbaijan and the EU increased 15 percent in the first four months of this year. The European Union is Azerbaijan`s main foreign trade partner,” said Azerbaijan`s deputy minister of economy Rufat Mammadov at the EU-Azerbaijan business forum in Baku. “The EU`s share in Azerbaijan`s foreign trade made up 42 percent in 4 months of 2018 against 42 percent in 2017.”

“The EU invested $15.3 billion in Azerbaijan over the nine months of the last year. More than 1,500 companies of EU countries function in Azerbaijan. Azerbaijan has already signed the Strategic Partnership Declaration with the nine EU member states, agreements on elimination of double taxation with 24 member states and on promotion and mutual protection of investments with 17 member states,” the deputy minister said.

“Azerbaijan also cooperates with the EU within the Twinning, TAIEX and Budget Support instruments, and support in the amount of 600 million euros has been rendered to Azerbaijan so far,” Mammadov added.