Azerbaijan aims to use EU investments for export production

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    The further development of Azerbaijan-EU agricultural ties can be divided into two areas, said Azerbaijani’s Deputy Minister of Agriculture Seyfaddin Talibov.

    He was addressing the EU-Azerbaijan Business Forum in Baku June 8.

    One of the two areas is attracting investment from the EU, according to Talibov.

    He noted that currently, the main goal is to manufacture export-oriented products, where EU investments can be used.

    The second potential area could be the institutional cooperation between the EU countries and Azerbaijan in agriculture, according to Talibov.

    He also said the EU-Azerbaijan trade turnover of agricultural products was $240.7 million in 2016.

    “About $167 million accounted for the import of agricultural products from the EU,” he said, adding a little more than $73 million accounted for the exports of agricultural products to Europe.

    “More than 96 percent of the export of agricultural products accounted for peeled hazelnuts, while 1.7 percent accounted for pomegranate juice,” he noted.

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