The European Commissioner for Trade Phil Hogan told Trend about it, Caspian Energy News reports.

“The trade relationship between the EU and Azerbaijan is based on the Partnership and Cooperation Agreement which gained force in 1999. The EU and Azerbaijan started negotiations on the new comprehensive agreement in February 2017. The negotiations also include issues concerning expansion of trade cooperation between the EU and Azerbaijan. After seven rounds of negotiations on trade issues, the parties gained considerable success on chapters concerning trade and sustainable development, energy and raw materials. The purpose is to ensure further expansion of trade relations between the EU and Azerbaijan, and provide support in regard to Azerbaijan’s future membership in the World Trade Organization (WTO)”, he said.  

The Commissioner noted that the EU member states bear responsibility for stimulating trade in countries beyond the Union.

“As the Commission, we are offering instruments for importers and exporters so that to make it easier for them to trade. It is a Trade Support Service (for exporters within the EU) and the Market Access Data Base (for exporters from the EU to the third countries)”, Hogan added.

It bears reminding that on 14 November 2016, the Foreign Affairs Council adopted a mandate for the European Commission and the High Representative for Foreign Affairs and Security Policy to negotiate, on behalf of the EU and its member states, a comprehensive agreement with the Republic of Azerbaijan.

The new agreement shall replace the partnership and cooperation treaty signed in 1996.

Nowadays, the bilateral relationship between the EU and Azerbaijan is regulated on basis of the partnership and cooperation agreement which was signed in 1996 and gained force in 1999.