Azerbaijan shares volume of EU investments in local economy over past 10 years
BAKU, Azerbaijan, March 3. The EU has invested about 20 billion euros over the past 10 years in the economy of Azerbaijan, Acting Head of Department at the Ministry of Economy Konul Aliyeva said at a conference on ‘Increasing road safety in Azerbaijan’, Trend reports.
According to Aliyeva, since the beginning of this year alone, the trade turnover between Azerbaijan and the EU has exceeded $2 billion.
“Until now, Azerbaijan, together with the EU, has implemented twinning projects in the sectors of tourism, education, standardization, compulsory insurance, as well as in the protection of natural resources. Since 1992, the EU has allocated funds in the amount of 652 million manat ($383.5 million) within the framework of technical support to Azerbaijan,” she added.
The EU has implemented roughly 400 projects worth 224 million euro in Azerbaijan for 15 years of the EU Delegation’s activity. Over 50 twinning projects have been implemented in the country jointly with experts, public agencies of the EU member states, as well as the government institutions of Azerbaijan.
