Azerbaijan, EU discuss joint energy projects

By Azernews

By Ayya Lmahamad

Azerbaijan and the EU have discussed prospects for bilateral energy cooperation, the Energy Ministry reported on November 19.

The discussion took place at a meeting of representatives from the Azerbaijani Energy Ministry, the Directorate-General for European Neighbourhood Policy and Enlargement Negotiations, the European Bank for Reconstruction and Development, the  European Investment Bank, and the French Development Agency.

At the meeting chaired by Deputy Energy Minister Samir Valiyev, the parties focused on the implemented work and reforms in the field of renewable energy and energy efficiency.

The officials considered the national priorities underlying Azerbaijan's socio-economic development strategy. It was noted that special attention is paid to the application of "green" and "smart" concepts during the large-scale construction of the country's liberated territories.

The parties also touched on the involvement of EU financial institutions in the recovery and reconstruction of the liberated lands.

Additionally, specific proposals for potential projects in the field of renewable energy and energy efficiency in the country were put forward.

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.