Azerbaijan is the latest country to get a Formula 1 deal with the country set to make its debut in 2016.
F1 commercial rights holder Bernie Ecclestone and Azerbaijan's ministry for youth and sport confirmed on Friday that Baku will host a street race that will be known as the Grand Prix of Europe in two years' time.
"We are very happy that Baku has joined the Formula One family," Ecclestone said. "This will be a street race, which will pass through interesting and picturesque parts of Baku. The event will meet the current Formula One criteria."
Azerbaijan's Minister of Youth and Sport, Mr. Azad Rahimov added: "I am delighted to officially announce that we have signed a contract to bring Formula One racing to Baku in 2016. Our location at the crossroads of eastern Europe and western Asia is a new frontier for Formula One racing.
"Azerbaijan is a modern European country that has established a reputation as a centre of sporting excellence. The deal to bring Formula 1 racing to Baku is a very significant new chapter in our ongoing success to attract the world's largest sporting events to our country."