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EU Special Representative for South Caucasus to visit Azerbaijan

25 November 2022 11:59 (UTC+04:00)
EU Special Representative for South Caucasus to visit Azerbaijan

By Fatima Hasanova

Toivo Klaar, the EU Special Representative for the South Caucasus and the crisis in Georgia, will visit Azerbaijan, Azernews reports citing Klaar's tweet.

"Now leaving rainy Vienna for important meetings in Baku," the tweet said.

The European Union (EU) and Azerbaijan cooperate in different sectors of the economy.

Azerbaijan prioritizes equal and mutually beneficial cooperation with the European Union. In 2021, Azerbaijan and the EU had a trade turnover of $15.2 billion. At the same time, from 2012 to 2021, the EU invested more than $21.5 billion in Azerbaijan's economy.

As part of its economic investment plan, the European Union has provided Azerbaijan with a €2 billion financial package.

The EU and Azerbaijan are in active dialogue on increasing gas supplies amid the energy crisis.

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.

On July 19, 2022, Azerbaijan and the European Commission signed a memorandum of understanding on strategic cooperation in the energy sector. The document was signed by Azerbaijani President Ilham Aliyev and European Commission President Ursula von der Leyen.

The EU-Azerbaijan energy cooperation had reached a new level and is still deepening 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.

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