Azerbaijan has become the latest country to be added to the Formula 1 calendar, with the city of Baku being chosen to host the European Grand Prix in 2016.

The country's minister of youth and sport Azad Rahimov has revealed that they plan to create a street race similar to some of those already on the schedule.

Russia will host their first grand prix in October, and Azerbaijan will follow in the footsteps of their Eastern European counterparts, having been chosen as Valencia's successor as the holder of the European GP title.

"I am delighted to officially announce we have signed a contract to bring Formula 1 racing to Baku in 2016," Rahimov said in a statement. "Baku will be a spectacular addition to the Formula 1 calendar. Our location at the crossroads of eastern Europe and western Asia is a new frontier for Formula 1 racing.

"Azerbaijan is a modern European country that has established a reputation as a centre of sporting excellence. The deal to bring Formula 1 to Baku is a very significant new chapter in our ongoing success to attract the world's largest sporting events to our country.

"The course we are planning to design will be similar to leading street circuits already on the calendar."

It was confirmed on Wednesday that Mexico will return to the calendar in 2015, after a 23-year absence.