12:06 - 5.06.2018

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June 5, Fineko/abc.az. Today, Baku hosts the 4th Business Forum between Azerbaijan and the European Union.

Addressing to the forum, Deputy Economy Minister Rufat Mammadov stated that the EU is one of country’s main economic partners.

"The share of the EU countries in Azerbaijan's foreign trade relations made up 42% by the end of 2017, and a 42% rise was ensured for Jan-Apr. EU-Azerbaijan trade turnover increased up to $9.4 bn. For the past 9 years EU has invested EUR 50.3 bn in the economy of Azerbaijan. Now the country is numbering 1,500 European companies," the deputy minister said.

He also stressed the importance of energy cooperation between European countries and Azerbaijan. Azerbaijan provides 5% of Europe's energy demand.

"The EU has invested EUR 600 million in Azerbaijan since 1992 within the framework of development programs," Mammadov emphasized.