EU invests over $20 billion in Azerbaijan in 10 years, official says

Azerbaijan’s Deputy Minister of Economy Sahib Mammadov has said that the European Union (EU) had invested over $20 billion in projects in Azerbaijan over the past 10 years.

Azerbaijan is an important partner of the EU and one of the attractive markets for European investors, Report quotes Mammadov as saying on December 2.

Mammadov remarked that the EU remains one of key foreign trade partners of Azerbaijan with more than 700 European companies operating in the country.

The EU's share in Azerbaijan's foreign trade was 44.8 per cent ($15.2 billion) in 2021 and in the period from January through October 2022 this figure was 54.49 per cent ($25.23 billion), the deputy minister said.

"I am very pleased to report that cooperation with the EU is one of the main directions of our country's foreign policy. In the growing dynamics of relations between the parties, reciprocal visits, high-level meetings and an extensive legal framework are of particular importance, moreover, trade is one of the main areas of our bilateral cooperation," Mammadov added.