Ports of Baku and Italy ink memo of understanding

Baku International Sea Trade Port (Closed Joint Stock Company) has signed a Memorandum of Understanding with the Italian ports of Trieste and Genoa.

The company told Report that the signing ceremony took place as part of the Azerbaijan-Italy Business Forum in Rome.

The documents enable the ports to benefit from the existing trade turnover between China and Europe, and exchange innovations, advanced technologies, and operational knowledge.

Italy's largest Trieste Port is the gateway to Europe for countries such as China, the Far East, Singapore, and Malaysia. More than 400 trains a month link Trieste to the manufacturing and industrial areas of North-East Italy and Central Europe, with destinations such as Germany, Austria, Czech Republic, Hungary, Switzerland, and Luxembourg. The port's annual trade volume is about 70 million tonnes.

The Port of Genoa, with a trading volume of 51.6 million tonnes, is the busiest in Italy by cargo tonnage. Last year, it handled three million loaded TEUs and about five million passengers.