Countries and regions
EU-Azerbaijan bilateral trade relations are currently regulated by a Partnership and Cooperation Agreement in force since 1999.
Negotiations on an Association Agreement, launched in 2010 in the framework of the Eastern Partnership, are presently ongoing. They are accompanied by negotiations on enhanced trade provisions of the Partnership and Cooperation Agreement, intended to maximise bilateral cooperation and to support effective implementation of necessary reforms.
- The EU is Azerbaijan's main trading partner, accounting for around 42.4% of Azerbaijan's total trade.
- The EU continues to be Azerbaijan's biggest export and import market with respective 48.3 % and 27.7% share in total Azerbaijan's exports and imports.
- EU imports from Azerbaijan chiefly consist of mineral fuels, machinery and transport equipment, chemicals and food and live animals.
- EU exports to Azerbaijan are dominated by machinery and transport equipment, miscellaneous manufactured articles, manufactured goods and chemicals.
EU-Azerbaijan: Trade in goods
Trade in goods 2014-2016, € billions
EU-Azerbaijan: Trade in services
Trade in services 2013-2015, € billions
EU-Azerbaijan: Foreign direct investment
Foreign direct investment 2015, € billions
Date of retrieval: 15/02/2017
More statistics on Azerbaijan
EU and Azerbaijan
- The EU supports closer trade and economic integration with Azerbaijan through the the European Neighbourhood Policy and its Eastern Partnership dimension. An Action Plan has been agreed in this respect in 2006.
- The Action Plan is a long-term reform agenda in various policy areas, including trade and trade-related matters. The Commission / EEAS prepare annual reports where the progress made is assessed. For more information, see ENP progress reports
- EU-Azerbaijan bilateral trade relations are currently regulated by a Partnership and Cooperation Agreement in force since 1999. This agreement does not include tariff preferences, but prohibits quantitative restrictions in bilateral trade and envisages selective regulatory approximation of Azerbaijan's legislation to the EU acquis.
- Closer economic ties are dependent on the partner countries' membership in the World Trade Organisation (WTO). Azerbaijan applied for membership to the WTO in 1997 and the process is ongoing.
- With a view to supporting Azerbaijan's future WTO membership and subsequent eventual bilateral Deep and Comprehensive Free Trade Area, negotiations on upgrading the existing trade related provisions of the Partnership and Cooperation Agreement (non-preferential trade and investment agreement) were launched on 16 July 2010.
- Azerbaijan is receiving technical assistance from the EU to help it to prepare for WTO membership.
- Under the EU Generalised Scheme of Preferences (GSP), as of 22 February 2014 preferences for Azerbaijan have been deferred and Azerbaijan reverted to the standard "Most Favoured Nation" treatment. The new regime focuses preferences on poorer countries. Countries which are classified as “upper-middle income” economies by the World Bank for at least 3 years in a row, like Azerbaijan, have their preferences deferred.
Trading with Azerbaijan