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Azerbaijan

Azerbaijan

EU-Azerbaijan trade relations are based on a Partnership and Cooperation Agreement which has been in force since 1999.

The EU and Azerbaijan launched negotiations for a new comprehensive agreement in February 2017.

The negotiations include talks to enhance the EU-Azerbaijan trade cooperation. After 7 trade rounds, the negotiations of the trade title of the new Agreement, including also a chapter on trade and sustainable development, are now very advanced. The aim is to further expand EU-Azerbaijan trade relations and to support Azerbaijan's future WTO membership.

Trade picture

  • The EU is Azerbaijan's main trading partner, accounting for around 41.7 % of Azerbaijan's total trade.
  • The EU continues to be Azerbaijan's biggest export and import market with a 54.3 % share in Azerbaijan's exports and a 20.3 % share in Azerbaijan's imports.
  • EU imports from Azerbaijan chiefly consist of mineral products (fuels), vegetable products, chemicals, machinery and base metals .
  • EU exports to Azerbaijan are dominated by machinery, precious metals and articles thereof, chemicals, base metals and articles thereof, transport equipment, foodstuffs, beverages and tobacco, optical and photographic instruments, miscellaneous manufactured articles, and plastics, rubber and articles thereof .

EU-Azerbaijan: Trade in goods

Trade in goods 2016-2018, € billions
Year EU imports EU exports Balance
2016 7.6 1.9 -5.8
2017 9.4 1.7 -7.7
2018 11.5 2.7 -8.8

EU-Azerbaijan: Trade in services

Trade in services 2015-2017, € billions
Year EU imports EU exports Balance
2016 0.4 1.1 0.7
2017 0.6 1.1 0.5

EU-Azerbaijan: Foreign direct investment

Foreign direct investment 2017, € billions
Year Inward stocks Outward stocks Balance
2016 0.4 11.7 11.3
2017 0.4 11.7 11.3

Date of retrieval: 17/04/2019

More statistics on Azerbaijan

EU and Azerbaijan

The EU supports closer trade and economic integration with Azerbaijan through the European Neighbourhood Policy (ENP) and its Eastern Partnership policy.

The EU and Azerbaijan on 21 September 2018 agreed on Partnership Priorities, which set joint policy priorities that will guide and enhance the EU-Azerbaijan partnership over the coming years. The Commission  and the  European External Action Service (EEAS) prepare annual reports where they assess progress. The 2019 report was released on 15 March.

The current Partnership and Cooperation Agreement does not include tariff preferences, but eliminates trade quotas between the two and aims to gradually approximate Azerbaijan's standards to those of the EU .

Azerbaijan applied for membership to the World Trade Organisation (WTO) in 1997.  The accession negotiations are ongoing.

Trading with Azerbaijan