TODAY.AZ / Business

EU eyes to expand projects in Azerbaijan

15 March 2022 [10:25] - TODAY.AZ

By Azernews

By Ayya Lmahamad

The head of EU Delegation to Azerbaijan, Peter Michalko, has said that the European Union hopes to expand its projects in Azerbaijani cities, according to Trend.

He made the remarks during an event within the Mayors for Economic Growth Facility program.

"We look forward to expanding the EU's participation in ensuring the inclusive and economic development of the Azerbaijani cities," he said.

Michalko noted that the EU is already developing several projects in such Azerbaijani cities as Shaki, Lankaran and Astara. He added that the EU is working on projects in 45 Azerbaijani settlements in general.

The official also expressed hope that the Mayors for Economic Growth Facility program will benefit Azerbaijani cities significantly.

Furthermore, Officer-in-Charge at UNDP Azerbaijan Sukhrob Khojimatov stated that the United Nations Development Program and the EU are working to support Azerbaijani cities.

He stated that the solution to the problems of increasing employment, restoring, and accelerating sustainable growth is now in the hands of local government leaders.

"The UNDP and the EU hope that the Azerbaijani cities will be able to realize their plans as part of the project for the benefit of the people," he said.

Khojimatov also noted that the COVID-19 pandemic has become the biggest challenge for cities and towns.

The EU and Azerbaijan have cooperation in different fields of economy.

It should be noted that 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 had been signed more than ten years ago. 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. 


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