The Azerbaijan-EU business forum, organized by the country's Economy Ministry, will be held in Baku May 18, the ministry said.

The business forum will focus on expansion of cooperation in the spheres of trade and investments.

Moreover, the representatives of European and Azerbaijani companies will become familiar with the business environment in Azerbaijan and Europe.

Various panel discussions and bilateral meetings will be held during the forum.

The trade turnover between Azerbaijan and the EU countries stood at $1.53 billion in the first quarter of 2016, according to Azerbaijan's State Customs Committee.