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Rena Murshud

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A regular ministerial meeting of the EU's Eastern Partnership (EaP) member nations is underway in Brussels today, Azernews reports.

Azerbaijani Foreign Minister Jeyhun Bayramov is also attending a meeting of the foreign ministers of the European Union's (EU) Eastern Partnership (EaP) countries.

EU High Representative for Foreign Affairs and Security Policy Josep Borrell is chairing the meeting. The meeting is focusing on the implementation of the Economic and Investment Plan as well as the future of the Eastern Partnership, security issues, and the consequences of the conflict in Ukraine for the entire region.

The EU and Azerbaijan cooperate in different sectors of the economy.

A joint statement on energy cooperation with the EU had been signed for more than ten years. The EU-Azerbaijan energy cooperation had reached a new level and is still ongoing within the framework of the Southern Gas Corridor. The EU places a high value on energy supply diversification, and the Southern Gas Corridor is particularly important in this regard. In 2021, European countries purchased 8.2 billion cubic meters of gas, with an increase in volume expected in the coming years.

The 8th ministerial meeting of the Southern Gas Corridor Advisory Council, held in Baku on February 4, reaffirmed Azerbaijan and the European Union's strategic energy partnership, which is based on shared goals for long-term energy security, supply security, and green energy transition.

Azerbaijan prioritizes equal and mutually beneficial cooperation with the European Union. In 2021, Azerbaijan and the EU will have a trade turnover of $15.2 billion. At the same time, from 2012 to 2021, the EU invested more than $21.5 billion in Azerbaijan's economy.

As part of its economic investment plan, the European Union (EU) has provided Azerbaijan with a €2 billion financial package. Furthermore, the EU stated its readiness to participate in Azerbaijan's restoration and reconstruction efforts.

In February 2008, the European Commission Delegation to Azerbaijan was established in Baku.

The Eastern Partnership program was launched by the EU in 2009. Its main goal is the development of regional cooperation with six countries: Azerbaijan, Armenia, Belarus, Georgia, Moldova, and Ukraine.

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