Ilham Aliyev talks economic ties and co-op opportunities with EU countries

Baku, Azerbaijan, July 22

Trend:

At the joint press conference with the President of European Council Donald Tusk, Azerbaijani President Ilham Aliyev touched upon the economic ties between the country and the EU.

"We are very glad that Europe is our main trading partner," Ilham Aliyev said. "Almost half of our foreign trade is with the member states of the European Union."

Further on, President Aliyev said that the EU countries are the main investors of Azerbaijan. He further said that some 50 percent of investments into the country come from the European Union.

"There is good potential to develop economic cooperation and other forms of economic activity," he said.

As one of the elements of potential cooperation is the transportation area, the president said.

"We, together with our neighbors, are now in the phase of completion of the road that connects Azerbaijan, Georgia and Turkey, and thus connects Europe and Asia," he said. "This will be the new silk route which will increase the volumes of mutual trade between Europe and Asia."

President Aliyev noted that in this project Azerbaijan will play its important transit role.