EU-Azerbaijan Business Forum is funded by the European Union and takes place in Azerbaijan since 2016. Its main objective is to strengthen non-oil sector by improving the business climate and supporting the economic diversification of the country.
The main tasks of the EU-Azerbijan Business Forum are devoted to the promotion of economic cooperation between the EU and Azerbaijan, strengthening awareness of the business climate and investment opportunities in Azerbaijan, and enhancing public-private dialogue. During 2020-2022 the activities related to the Business Forum are implemented by COWI Belgium in collaboration with the Italy-Azerbaijan Chamber of Commerce, the Azerbaijan-France Chamber of Commerce and Industry, and InvestBaku.
EU BUSINESS CLIMATE REPORT AZERBAIJAN
Annual complex overview of the business environment in Azerbaijan based on surveys of EU companies operating in the country. Since 2015 this regular study reflects the main challenges of EU businesses in the country, tracks the progress of economic reforms and determines priorities for further improvement of the local business environment.
EU-AZERBAIJAN BUSINESS FORUM
Annual business-event to strengthen EU-Azerbaijan cooperation. The Forum provides a solid platform for networking between EU and Azerbaijani businesses and effective public-private dialogue. The agenda of the Forum includes developments in the local business climate as well as new opportunities for economic cooperation between the countries.
SECTOR-SPECIFIC BUSINESS MISSIONS OUTSIDE BAKU
The business missions focus on specific sectors with the aim to explore current developments and investment opportunities for EU businesses in the Azerbaijani regions. During the missions, EU businesses get a chance to network and meet potential partners outside of Baku.
EU BUSINESS NETWORKING
Opportunities for EU companies operating or interested in working in Azerbaijan to share their knowledge and experiences with each other, as well as establish direct contacts with potential business partners.
The project is implemented within EU4Business regional initiative supporting the SME sector in Eastern Partnership countries by improving access to finance, better business regulations, and trade opportunities
Economic Cooperation between the EU and Azerbaijan
ECONOMIC RELATIONS, TRADE & INVESTMENTS
The EU is one of Azerbaijan's most important economic partners and represents the majority of its trade and foreign direct investments. Over 400 companies from various EU countries are currently operating in Azerbaijan.
Azerbaijan is a strategic partner for the EU and an attractive market for European investors. The country plays an important role in the diversification of EU energy resources by bringing Caspian gas to the EU market. Since December 2019, a new TAP started its work within SGC and as for December 2021 delivered over 7 bn. cubic meters of Azerbaijani gas to the EU.15
The EU remains one of the largest trade partners for Azerbaijan. Total trade between the countries has grown since 2015 reaching about USD 12.2-12.4 bn. in 2018- 2019. Following a COVID-19 related decline in 2020, trade rebounded in 2021, with a 70% increase and reached record USD 15.216, which is around 45% of the total turnover of the country this year. Amongst the EU countries with the biggest share in Azerbaijani import this year are Germany, Italy, France, Poland and Romania. Azerbaijan exports the most products to Italy, Croatia, Germany, Portugal and Spain.
The EU supports reforms in Azerbaijan, which lead to economic modernisation, diversification, and social development. The cooperation includes support to the population and the government with a focus on good governance, rule of law, fight against corruption, development of skills, and other measures.