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European Commission details trade part of expected new agreement with Azerbaijan

Business Materials 19 August 2021 09:47 (UTC +04:00)

BAKU, Azerbaijan, Aug. 19

By Leman Zeynalova – Trend:

The new agreement between Azerbaijan and the EU will help reinforce the setting up of an open and predictable business environment in Azerbaijan, an EU official told Trend.

“While we can’t determine which new goods and services will benefit specifically from the new agreement, the agreement will ensure that the right foundations for increased trade in goods and services are established making it easier for both sides to increase trade.

In its trade part, the new agreement is expected to contain binding disciplines – largely based on internationally recognised rules of the WTO – in areas such as trade in goods, technical barriers to trade, trade in services and establishment, capital movements, competition, energy and raw materials, state owned enterprises, public procurement, intellectual property rights, sanitary and phytosanitary measures, customs cooperation and sustainable development,” said the EU representative.

“The new agreement, once concluded, should thus facilitate trade between Azerbaijan and the EU. It will also create a better regulatory environment for economic operators and thus the right business climate for supporting Azerbaijan.

Both sides shall refrain from introducing any restrictions to trade, so that trade can continue uninterrupted.”

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