The EU and Azerbaijan have agreed to deepen cooperation on investment and cross-border links in transport, digital, energy and trade to boost Europe-Asia connectivity.
The agreement was made under the EU’s Global Gateway initiative and the EU’s recently launched Cross-Regional Connectivity Agenda, the European Commission announced on Thursday, cited by the European External Action Service (EEAS).
The EU, Azerbaijan and the European Bank for Reconstruction and Development (EBRD) have also agreed to launch a feasibility study for the Nakhchivan railway project. A feasibility study is an early assessment of whether a project can be delivered and how.
The planned railway is described as part of the Trans-Caspian Transport Corridor, which the Commission said is intended to link Europe and Central Asia with a target transit time of 15 days.
Nakhchivan railway linked to Trans-Caspian corridor
Diversified transport routes between Europe and Asia are a shared strategic interest, the European Commission statement said.
It added such routes can reduce risks linked to “excessive dependencies”.
The Commission stated additional priority projects would be supported through financial instruments and bilateral and regional programmes, without giving further details.
Those projects are expected to strengthen economic ties between the EU and Azerbaijan and support Azerbaijan’s economic diversification, skills and job opportunities, and rural development.
