On February 29, 2020, the European Union and Azerbaijan signed a Comprehensive Agreement that encompasses different spheres of cooperation. This agreement comprises political, economic, and trade cooperation and also includes provisions on human rights, democracy, and the rule of law.
The purpose of the Comprehensive Agreement is to strengthen the partnership between the European Union and Azerbaijan and provide a comprehensive framework for cooperation. The agreement has been in the works since 2015, and it serves as a replacement for the Partnership and Cooperation Agreement that was signed in 1996.
One of the key features of the Comprehensive Agreement is the deepening of economic ties between the EU and Azerbaijan. The agreement facilitates trade in goods and services between the two parties, reduces trade barriers, and creates a more favorable investment climate. Additionally, the Comprehensive Agreement includes provisions on intellectual property rights, competition policy, and public procurement.
The Comprehensive Agreement also includes a chapter on sustainable development, which highlights the importance of protecting the environment, promoting social and economic development, and upholding human rights. This chapter aims to ensure that economic development does not come at the expense of social and environmental well-being.
Another critical aspect of the Comprehensive Agreement is the commitment to promoting democracy and human rights. The agreement affirms the importance of respecting human rights, fundamental freedoms, and the rule of law, and encourages dialogue and cooperation in these areas.
Overall, the EU-Azerbaijan Comprehensive Agreement represents a significant step forward in the partnership between the European Union and Azerbaijan. By strengthening economic ties, promoting sustainable development, and upholding human rights and democracy, this agreement has the potential to bring significant benefits to both parties.