Azerbaijan, Italy to sign new agreement on promotion and protection of investments

Baku. 4 October. REPORT.AZ/ Minister of Economy Shahin Muistafayev has met with Italy’s ambassador to Azerbaijan Augusto Massari.

Report informs that the minister said the cooperation between the two countries continues successfully.

Touching upon Azerbaijan-Italy economic links and cooperation perspectives, the minister noted that 95 Italian companies have registered in Azerbaijan and these companies are taking part in 41 state contractor projects. It was stressed that Italy is Azerbaijan’s main trade partner and ranks first for export.

Azerbaijan and Italy are currently working on the new draft agreement on promotion and protection of investments, Joint Action Plan envisaging cooperation in energy, infrastructure, logistics, railways, agrarian industry, petrochemistry and other fields. Noting successful cooperation between Italy and Azerbaijan on energy and implementation of joint projects in this field, Minister Shahin Mustafayev said Azerbaijan is interested in expansion of ties with Italy in non-oil sector and there are opportunities for enhancement of cooperation in infrastructure, energy, tourism, agriculture, transport, humanitarian and other fields.

On his part, Augusto Massari emphasized the successful mutual visits and noted that discussions on development of cooperation have been held during the visits. The ambassador said that the Italian companies are interested in the implementation of different projects in Azerbaijan.