60 companies of Azerbaijan and Italy met at Confindustria

Energy (including renewables), infrastructure and transport, agro-industry, machinery, chemical and pharmaceutical are the focus sectors protagonists of the "Italy-Azerbaijan Round Table" that took place on 5 September in Rome, at the headquarters of Confindustria, with the aim of deepening the bilateral opportunities for economic and industrial collaboration.

The initiative, organized by Confindustria in collaboration with the Ministry of Companies and Made in Italy, the Ministry of Foreign Affairs and International Cooperation, the Ministry of Economy of the Republic of Azerbaijan, the Embassy of the Republic of Azerbaijan to the Italian Republic and AzPromo, involved about 60 participants among Azerbaijani and Italian companies and associations, interested in developing the already consolidated relations between the two countries. The event was opened by the speeches of Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan, Adolfo Urso, Minister of Companies and Made in Italy of Italy, Giorgio Silli, Undersecretary of State at the Ministry of Foreign Affairs and International Cooperation of Italy, Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria and Aurelio Regina, Delegate of the President of Confindustria for Energy.

During the meeting, Confindustria and AzPromo signed a Protocol to improve bilateral cooperation between the two production systems in a very significant geographical axis.

In his speech, Minister Mikayil Jabbarov touched upon issues of strengthening cooperation in business relations, industry, renewable energy, infrastructure, transport, textiles, chemistry, pharmaceuticals and other priority sectors.

“AZPROMO remains fully committed to promoting and strengthening the strong economic ties between Azerbaijan and Italy. Since our visit to Italy in July, we have carefully curated the 16 Azerbaijani companies that participated in today's roundtable. The aim of the Azerbaijani companies is to facilitate the exchange of experience and knowledge, support the transfer of advanced technologies, and work closely with their Italian counterparts to establish and expand their production lines. We are confident that the discussions held today will significantly contribute to the expansion of trade and investment opportunities between our countries, leveraging Italy's experience in various sectors and Azerbaijan's strategic location and favorable investment climate,” said Yusif Abdullayev, Executive Director of AZPROMO.

“Azerbaijan is the heart of the crossroads between Europe and Asia and represents a privileged gateway for international trade routes. In fact, a crucial event, COP29, will be held in Baku in November”, said Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria. “Trade between Azerbaijan and Italy has doubled in 5 years, reaching 12 billion euros, mainly thanks to the boost from energy imports that have made Italy Azerbaijan's leading trading partner. But there are the premises to improve it even further, given that Italy is one of the most complex and diversified economies in the world, as well as being an important global exporter and a processing country. Our manufacturing is in fact appreciated throughout the world and this year we reached 4^th place as a global exporter”. “The collaboration between Azerbaijan and Italy on the energy front is fundamental, starting with the project to double the capacity of the TAP, a strategic infrastructure for the energy security of our country. Also on the renewable energy front, Azerbaijan's position offers unique opportunities for a range of alternative energy sources, including solar, wind and geothermal. COP 29 to be held in Baku in November will be a fundamental event to jointly support industrial policies for decarbonisation, based on competitiveness, technological neutrality, sustainability of the transition path, industrial cooperation and public-private partnerships”, added Aurelio Regina, Delegate of the President of Confindustria for Energy.