Earlier, Azerbaijan prepared six project proposals in connection with requirements of the HDM Initiative, which were previously presented to the European Commission in order to obtain financing. The projects were prepared in six directions of the HDM Initiative – e-customs, e-commerce, e-business, e-security and others.

The HDM Initiative is aimed at addressing important issues on formation of the legal basis, improving customs procedures and implementation of software for trading. It envisages the creation of a single digital zone, which provides entrepreneurs with a single field in order to conduct trade operations and mutual settlements.

Babayev said that in December 2016, Lithuania hosted a two-day conference of the European Commission dedicated to the HDM Initiative in the e-trade, the concept of which combined such areas as e-commerce, e-customs and e-logistic.

"In accordance with the decision made, starting from the first half of 2017, the Eastern Partnership countries will begin studies regarding the implementation of projects that combine all these directions in the e-trade," Babayev said. "The selection of experts [for holding the research] from six participating countries of the Eastern Partnership is currently underway."

"The contract with these experts will be signed in mid-February 2017," Babayev noted. "In general, the work in this direction should be completed by May 2017."

For several reasons, it is not possible to name the exact amount that may be required for implementation of the projects, he said.

It is also planned to resolve issues related to the mutual recognition of e-signatures within the e-trade sphere, which is a part of the cross-border trade transactions, Babayev noted.