“Azerbaijan plays an important role in ensuring energy security of European Union,” the Minister of Economy of Azerbaijan Shahin Mustafayev said, APA Economics reports.
According to him, currently, the forming of the Southern Gas Corridor continues: “Works on three components of the corridor have been completed. Next year the Trans-Adriatic gas pipeline will also be put into operation, which will further enhance Azerbaijan's role in strengthening the EU's energy security.”
The minister also noted that $ 40 bln were invested for the establishment of Southern Gas Corridor.
"Azerbaijan is the main trade partner of EU in the South Caucasus region. 78 percent of the trade of EU in this region belongs to Azerbaijan,” Shahin Mustafayev said.
Moreover, according to minister 42% of Azerbaijan's trade turnover belongs to EU countries.
“Trade turnover between Azerbaijan and the EU increased by 30% last year. However there are great opportunities in order to increase trade turnover and the sides are working on this”, the Minister added.