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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 seven 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 36.7 % of Azerbaijan's total trade.
  • The EU continues to be Azerbaijan's biggest export and second biggest import market with a 51 % share in Azerbaijan's exports and a 16 % share in Azerbaijan's imports.
  • EU imports from Azerbaijan chiefly consist of mineral fuels, lubricants and related materials. Other EU imports from Azerbaijan include mainly food and live animals, chemicals and related products and certain manufactured goods.
  • EU exports to Azerbaijan are dominated by machinery and transport equipment. Other EU exports to Azerbaijan include mainly chemicals and related products, manufactured goods and articles, and food and live animals.

EU-Azerbaijan: Trade in goods

Trade in goods 2017-2019, € billions
Year EU imports EU exports Balance
2017 9.3 1.5 -7.9
2018 11.3 1.6 -9.7
2019 10.6 1.8 -8.8

EU-Azerbaijan: Trade in services

Trade in services 2016-2018, € billions
Year EU imports EU exports Balance
2016 0.3 0.8 0.5
2017 0.5 0.8 0.3
2018 0.5 0.7 0.2

EU-Azerbaijan: Foreign direct investment

Foreign direct investment 2018, € billions
Year Inward stocks Outward stocks Balance
2018 0.4 2.1 1.7

Unless otherwise mentioned “EU” concerns for all indicated years the current European Union of 27 Member States.

Date of retrieval: 22/04/2020

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 2019.

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.

Committees and Dialogues

The EU and Azerbaijan have regular meetings to discuss issues relating to the application of
the Partnership and Cooperation Agreement.

Sub-Committee on Trade, Economic and Related Legal Issues

Trading with Azerbaijan