Azer News
Azerbaijan and Italy have discussed the issue of simplifying visa rules between the two countries. The discussion took place during the meeting of Mammad Musayev, Azerbaijan’s Entrepreneurs Confederation president and Manuela Traldi, head of Italy-Azerbaijan Chamber of Commerce (ITAZERCOM) and the confederation’s representative in Italy.
Noting that this year marks the 30th anniversary of the establishment of diplomatic relations between Italy and Azerbaijan, Musayev stated that the cooperation between the two countries covers a wide range of areas. In turn, Manuela Traldi proposed to sign a memorandum of cooperation between the Italian Chamber of Commerce and Azerbaijan’s Entrepreneurs Confederation. During the meeting, the parties discussed the conditions created in the industrial parks of Azerbaijan.
The sides also discussed the issues of increasing activity in organizing business visits, as well as investment opportunities in Azerbaijan’s Karabakh. Azerbaijan is a major supplier of energy to Italy. In Azerbaijan, over 100 Italian companies operating in various fields are registered. Furthermore, Italian firms have contracts worth more than € 10 billion ($11.8 billion) for Azerbaijani projects both inside and outside the country. Azerbaijan’s total investment in the Italian economy is estimated to be around € 1.7 billion ($2 billion), with Italy investing approximately € 770 million ($910.8 million) in Azerbaijan. Italy was Azerbaijan’s top trade partner in January-February 2022, with a total trade turnover of $3.1 billion between the two countries.
Italy was one of the first countries to express support for Azerbaijan’s territorial integrity, as well as an interest in participating in restoration efforts in Azerbaijan’s liberated territories. Thus, Italy and Israel have already begun work on a joint project to transform the liberated Zangilan region into a smart city.
