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Azerbaijan, EU to discuss expansion of partnership

Xinhua, June 8, 2016 Adjust font size:

Azerbaijan and the European Union (EU) are carrying out activities for the expansion of partnership, head of the EU delegation to Azerbaijan Malena Mard told local media here on Tuesday.

The EU official said, representatives of the European Union are expected to visit Azerbaijan this year in autumn to discuss energy projects. A political level visit, according to her, will be paid in the coming months.

She said Azerbaijan and the EU hold consultations on a new strategic agreement.

"Consultations take much time as a new agreement will cover mainly all areas of cooperation," said Malena Mard.

Azerbaijan and the EU have maintained a positive relationship through the years. Azerbaijan is currently part of the European Neighborhood Policy and the Council of Europe, and is a large recipient of aid and infrastructure investment from the EU.

Trade turnover between Azerbaijan and the EU over the past period of 2016 reached 2 billion U.S. dollars, or 41 percent of the export and import operations.

The volume of investments made by the EU countries in Azerbaijan's fixed capital over the last 10 years, accounted for 45.6 percent of the total volume of investments in the country's fixed capital.

Direct investments made by the EU countries in Azerbaijan's non-oil sector neared 35 percent of the total volume of direct investments in this sector. Endite