The trade relations between Azerbaijan and the European Union are a substantial part of enhancing economic and political relations among both parties. Recent years have been characterized by an expansion of the trade volume between two parties; the EU turned out to be Azerbaijan’s biggest trade partner, in terms of both imports and exports. Moreover, trade in services and foreign direct investment relations were also on rise. On the other hand, Azerbaijan is one of the main energy suppliers of the European Union among European Neighborhood countries and is a key partner to guarantee energy security.
Additionally, this research paper analyzes the potential benefits of joining the Deep and Comprehensive Free Trade Area (DCFTA) of the EU, showing specific data with the support of the Computable General Equilibrium (CGE) model.
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