The European Union and Azerbaijan have agreed to strengthen their partnership within the framework of the EU’s Global Gateway initiative and the recently presented Interregional Connectivity Program.
According to the EU Delegation to Azerbaijan to Elchi.az, the parties aim to jointly unlock new economic opportunities through sustainable and stable connections in the fields of transport, digital, energy and trade, and to promote common prosperity, cooperation and peace in the long term.
It was reported that within this framework, the European Union and Azerbaijan have agreed with the EBRD to start work on a feasibility study for the preparation of the Nakhchivan railway project: “This is an important investment in terms of improving mobility and economic flows in Azerbaijan and the wider region. This railway is part of the wider Trans-Caspian Transport Corridor, which aims to connect Europe and Central Asia in a planned transit time of 15 days.”
It was noted that diversified, reliable and stable routes between Europe and Asia serve common strategic interests: “The benefits they provide are mutual and reduce the risks of excessive dependence. In addition to bilateral and regional support programs, future priority projects through innovative financial instruments will strengthen economic ties between the EU and Azerbaijan. They will also support Azerbaijan’s efforts to diversify its economy, strengthen regional ties, create skills and job opportunities within the country, and promote inclusive and sustainable development of rural areas.”