Azerbaijan and Italy discuss strengthening ties

22 Feb 2019

flagWhile on a visit to Azerbaijan, Italian Deputy Minister for Economic Development Andrea Cioffi met with Azerbaijani Economy Minister Shahin Mustafayev to speak of continued cooperation between both countries, Trend news agency reports.

Mustafayev highlighted the advantageous relationship the two countries have, pointing out that Italy is Azerbaijan’s main trade partner and ranks in first place for exports.

“The trade turnover between the two countries increased by 10% and amounted to $6.2 billion in 2018,” he said.

“Italy is involved in twinning projects which are being implemented in Azerbaijan within the cooperation with the EU. Italian companies are successfully operating in Azerbaijan. A few days ago, the opening ceremony of SOCAR-Polymer plant was held, the contractor of which is the Italian company Maire Tecnimont.

“The participation of the presidents of both countries at the opening ceremony of the first phase of this plant in 2018 testifies to the importance attached to the development of bilateral ties,” Mustafayev went on to say.

“Presently, the work is underway on a new draft agreement on the promotion and protection of investments between Azerbaijan and Italy, on a joint action plan, envisaging the expansion of cooperation in various sectors of the economy.”

He added that Azerbaijan is particularly interested in further strengthening cooperation between the two countries in the non-oil field, as well as potentially in the energy, infrastructure, transport, ICT, tourism, agriculture and winemaking sectors, among others.

Mustafayev went on to invite Italian businessmen to make good use of the excellent working conditions in Azerbaijan and establish joint ventures in industrial parks in the fields of engineering, household appliances, light industry and pharmaceutics.

Cioffi answered by saying Italian companies are interested to partake in projects across a range of economic sectors in Azerbaijan.