Azerbaijan, EU intend to expand trade ties based on preferential tariffs

BAKU. March 12 (Interfax) - Azerbaijani President Ilham Aliyev and European Council President Antonio Costa have discussed prospects for expanding trade ties based on the principles of preferential tariffs during an expanded-format meeting in Baku, the Azerbaijani head of state's website said.

In particular, the meeting discussed transport and logistics issues.

"The importance of the TRIPP project [the Trump Route for International Peace and Prosperity] as an integral part of the Middle Corridor [the Trans-Caspian International Transport Route, TITR] was emphasized. The participation of the European Union in the restoration and reconstruction of the Nakhchivan railway line, which is a continuation of this project, was noted. A discussion was held on the prospects for expanding trade ties between Azerbaijan and the European Union based on the principles of preferential tariffs," a statement on the website said.

The parties expressed satisfaction with the development of relations between Azerbaijan and the EU in various areas, including security, energy and transport. The importance of the discussions held within the framework of the Southern Gas Corridor Advisory Council, which took place some time ago in Azerbaijan, was emphasized. Azerbaijan's contribution to ensuring Europe's energy security, of which gas exports to ten European countries are a part, was noted in particular.

During the meeting, progress in the peace agenda between Azerbaijan and Armenia was also noted, emphasizing that the European Union is "always ready to contribute to its advancement."

"In addition, an exchange of views took place on the prospects for cooperation between Azerbaijan and the European Union in the field of digital transformation, artificial intelligence and the creation of data centers," the statement said.