Minister: "Azerbaijan has invested US$ 1.7 bln. in Italy"
- 15 January 2020
The 5th meeting of the Intergovernmental Commission for economic cooperation between the Azerbaijan Republic and the Italian Republic has been held in Rome, the Energy Ministry told “APA-Economics”.
The Energy Minister Parviz Shahbazov making a speech at the meeting said the relations of Azerbaijan with Italy being one of its main trade partners were developing successfully.
The important role of the high-level mutual visits in the development of relations with Italy including the visit of President of Azerbaijan Republic Ilham Aliyev to Italy in 2015, the visit of President of Italian Republic Sergio Mattarella to Baku in 2018 and the visit of Azerbaijan’s First Vice President Mehriban khanoom Aliyeva to Italy was stressed.
It was stated that in 2018, the trade turnover between our countries increased by 9.7%. The growth trend also continued during initial 9 months of 2019, and the 10.5% growth was observed. In our country, 113 Italian companies have been registered in various sectors of economy. The Energy Minister brought to the notice that up to now US$ 770 million were invested by Italy into Azerbaijan’s economy, and US$ 1.7 billion were invested by Azerbaijan into the Italian economy.