Azernews.Az

The European Union plans to offer Azerbaijan to sign an agreement on establishing a free economic zone after the country’s admission to the World Trade Organization (WTO), EU Delegation head Roland Kobia told reporters on Wednesday.

Kobia said the EU supports Azerbaijan’s WTO membership bid.

"Azerbaijan has already completed bilateral talks with Georgia, and a relevant protocol has been signed," Kobia said. "Georgia’s accession to the WTO is a good sign for Azerbaijan."

The Azerbaijani delegation is preparing to hold the ninth round of multilateral negotiations with a WTO working group and bilateral talks on February 24 in Geneva. The United States and the EU have already agreed to hold bilateral talks.

Azerbaijan has had observer status in the WTO since 1997 and started talks on its membership in 2004. Azerbaijan is currently negotiating with the EU, the U.S., Japan, Brazil, Ecuador, Sri-Lanka, Norway, India, South Korea, the Chinese province of Taiwan, Canada and Switzerland.

The negotiations have been completed and respective protocols signed with Turkey, Oman, the UAE, and Georgia.

Azerbaijan is about to sign such a protocol with Moldova, which is still reviewing the document, while Kyrgyzstan has already agreed to sign it.

The Geneva-based WTO, which was established in 1995, comprises around 150 members and accounts for 97 percent of world trade.

Accession to the group is expected to accelerate Azerbaijan’s economic development, facilitate the opening of jobs and access of domestic goods to overseas markets.