The 8th EU-Azerbaijan Partnership and Cooperation Agreement (PCA) Sub-Committee on Energy, Transport and Environment will be held in Baku on 19 February 2013. The officials from the European External Action Service, the Directorate-General for Energy, Directorate-General for Environment of the European Commission and the Delegation of the European Union to the Republic of Azerbaijan will hold talks with the Azerbaijani government officials.
"The meeting will discuss important areas of the EU-Azerbaijan relations such as energy cooperation, transport corridors and environment. Like in previous years, I am confident that the meeting will bring fruitful results and will contribute to our mutual political and economic agendas, and will bring the EU and Azerbaijan even closer," - Ambassador Roland Kobia, Head of the Delegation of the European Union to the Republic of Azerbaijan said.
* The EU-Azerbaijan Partnership and Cooperation Agreement signed in 1996 established the energy, transport and environmental protection among the crucial areas on which the cooperation between the EU and Azerbaijan shall be concentrated. The sub-committees were launched to hold regular dialogue and to strengthen bilateral cooperation. Previous EU-Azerbaijan PCA Sub-Committee on Energy, Transport and Environment was held in Brussels on 17 February 2012. -0-
Economics
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Azerbaijan’s economy, which is heavily dependent on oil revenues, faces a stark warning in the 2021 report by Carbon Tracker titled “Beyond the Oil States: The Urgent Need to Reduce Dependence on Oil in the Context of the Energy Transition.” The report ranks Azerbaijan among the most vulnerable oil-dependent countries, placing it in the "5th group" — a category reserved for nations expected to experience a decline in oil and gas revenues exceeding 40% over the next decade. This group includes Angola, Bahrain, Timor-Leste, Equatorial Guinea, Oman, and South Sudan, highlighting shared economic risks for these states.
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