BAKU, Azerbaijan, May 31. The total volume of EU investments in Azerbaijan amounted to 24.7 billion from 2012 through 2023, Rauf Najafli, an advisor to Azerbaijan's Economy Minister Rauf Najafli said, Trend reports.
He made the remark during today's second annual reporting meeting of the Azerbaijan Rapid Technical Assistance Facility (AZTAF), funded by the European Union (EU) and managed by the World Bank (WB), in Baku.
"Cooperation with the European Union holds an important place in Azerbaijan's foreign policy. Amid the growing dynamics of bilateral relations, trade remains one of the main areas of interaction. Meanwhile, Azerbaijan represents an attractive market for European investors.
In 2023, the EU's share in Azerbaijan's foreign trade amounted to $24.82 billion, and from January through April of the current year, this figure reached $5.31 billion," he emphasized.
Najafli pointed out that Azerbaijan's cooperation with the European Union and the World Bank within various programs and projects plays an important role in ensuring economic development and adopting innovative approaches.
"Situated in a crucial geopolitical space, Azerbaijan effectively cooperates at both regional and global levels, including with international organizations and their institutions, making necessary efforts for the continuous development and strengthening of these relations.
We highly value cooperation with leading international organizations against the backdrop of the growing dynamics of bilateral and multilateral relations and high integration into the global economy, and we actively participate as a reliable and proactive partner.
I would particularly like to emphasize that cooperation with the European Union and the World Bank within various programs and projects plays a vital role in ensuring economic development and adopting innovative approaches," he added.
To note, AZTAF was launched to support the Azerbaijani government in achieving the goals outlined in the Azerbaijan Socio-Economic Development Strategy for 2022–2026.
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