Baku, Azerbaijan, May 27
By Anvar Mammadov - Trend:
The European Union is the main trade partner of Azerbaijan, said Azerbaijan's Deputy Economy Minister Sahil Babayev in Baku May 27.
He made the remarks addressing the conference dedicated to support for the institution-building program in Azerbaijan.
"The trade turnover between Azerbaijan and the EU countries stood at $9.7 billion in 2015, or almost half of Azerbaijan's total trade turnover," said Babayev. "This positive tendency continued in 2016 as well."
The deputy minister pointed out that the trade turnover between Azerbaijan and the EU over the past period of 2016 has reached $2 billion, or 41 percent of the export and import operations.
Babayev noted that 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.
The 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, according to the deputy minister.
Meanwhile, the major part of Azerbaijani investments was made in the EU countries such as France, UK, Switzerland and so on, he added.
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