EU and Azerbaijan sign strategic gas deal

The President of the European Commission Jose Manuel Barroso and the President of Azerbaijan Ilham Aliyev on have signed a Joint Declaration on gas delivery for Europe in Baku, the European Union (EU) said.

In the declaration, Azerbaijan commits to supplying substantial volumes of gas over the long term to the EU, while Europe provides access to its market for them. This Joint Declaration is an important step in the realization of the Southern Gas Corridor and the diversification of Europe's energy supplies.

European Commission proposes €46 million assistance to Georgia

The European Commission on Thursday proposed €46 million ($61 million) as macro-financial assistance (MFA) to Georgia to support its economic recovery.

The proposed aid is part of a comprehensive package from the European Union totaling €500 million ($666.85 million) to support Georgia's recovery stemming from the 2008 armed conflict with Russia and the global crisis.