Azerbaijan and EU ink a new financing agreement

Baku. 9 December. REPORT.AZ/ Minister of Economic Development, Chairman of the State Commission for European Integration Shahin Mustafayev has met with European Union (EU) Ambassador Malena Mard.

Report informs referring to the Ministry of Economy, Sh. Mustafayev speaking about Azerbaijan-European economic relations, stressed areas of cooperation including energy, investment, trade and others since 1996.

The minister noted that Azerbaijan plays an important role in ensuring energy security of Europe.

Speaking about the economic relations between the EU and Azerbaijan, Malena Mard along with the energy sector between the two countries stressed the importance of expansion of relations in other areas. According to her EU will continue its efforts towards the development of cooperation.

At the end of the meeting, financing agreement of relevant regional development program on 2015 Action Programme for Azerbaijan within European Neighbourhood Instrument was signed

The agreement includes twinning and technical support, creation of business information system for rural areas using tools such as grants, development of entrepreneurship, small and medium enterprises and family farms to improve the system, aimed at supporting the development of businesses in rural areas, introduction of agricultural advisory services,investment support and educate consumers through the advocacy and promotion of local products.