The EU is one of the largest foreign investors in Azerbaijan's economy with 7 billion euros direct investment, said Meredith addressing the 3rd EU-Azerbaijan Business Forum in Baku on Thursday.
According to him, 2.5 billion euros of the investment were directed to the non-oil sector.
“We see that Azerbaijan is determined to diversify its economy. More than 30 European companies are doing business in Azerbaijan,” the EU representative said.
As for the ongoing EU-Azerbaijan talks on a new agreement, Meredith said. “The agreement is of great importance for both the EU and Azerbaijan. At present, we are discussing the priorities of partnership.”
He recalled that the last agreement between the EU and Azerbaijan was discussed 20 years ago.
Meredith stressed that the Southern Gas Corridor is among the priorities for the EU.
“Energy efficiency and transport will be among the main priorities for the upcoming Eastern Partnership summit in November. We believe that in November we will be able to achieve results in the transport issue. The EU is interested in this issue. The EU and Azerbaijan demonstrate a commitment to cooperation in this field,” he added.
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