Azerbaijan, Europe discuss co-op opportunities between businesses

By Azernews

By Ayya Lmahamad

Azerbaijan and Europe have discussed opportunities for cooperation between business people, Azernews reports.

The discussion took place during the meeting between Azerbaijani Export and Investment Promotion Foundation Head Yusif Abdullayev and European Business Association Director General Tajio Schilling.

During the meeting, Yusif Abdullayev provided information about the agency's activities, opportunities for cooperation between the entities, and the organization of business missions to Azerbaijan.

The parties also exchanged views on the organization of business meetings between entrepreneurs.

The EU and Azerbaijan enjoy cooperation in different sectors of the economy. The EU invested over $21.5 billion in the Azerbaijani 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 in Azerbaijan was opened in Baku in February 2008.

Additionally, Azerbaijan started commercial gas supplies to Europe through the Trans-Adriatic Pipeline (TAP) on December 31, 2020.