ITALY-AZERBAIGIAN, TODAY IN CONFINDUSTRIA THE MEETING WITH 60 ENTERPRISES. ENERGY AND INFRASTRUCTURE AMONG THE FOCUS SECTORS

Cimmino: 'Country at the crossroads between Europe and Asia. Interchange doubled in five years but we can do more'
Regina: 'Collaboration on energy crucial, starting with doubling TAP'
Abdullayev: 'Committed to strengthening economic ties with Italy'

Rome, 5 September 2024 - Energy (including renewables), infrastructure and transport, agro-industry, machinery, chemicals and pharmaceuticals. These are the focus sectors protagonists of the 'Italy-Azerbaijan Round Table' that took place today in Rome, at the Confindustria headquarters, with the aim of deepening bilateral opportunities for economic and industrial cooperation.
The initiative, organised by Confindustria in cooperation with the Ministry of Enterprise 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 Republic of Italy and AzPromo, involved around 60 participants including Italian and Azerbaijani companies and associations, interested in developing the already consolidated relations between the two countries. The proceedings were opened by Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria, Aurelio Regina, Delegate of the President of Confindustria for Energy, Adolfo Urso, Minister of Enterprise and Made in Italy, Giorgio Silli, Undersecretary of State at the Ministry of Foreign Affairs and International Cooperation, and Mikayil Jabbarov, Minister of Economy of the Republic of Azerbaijan.
 
During the meeting, Confindustria and AzPromo signed a protocol to improve bilateral cooperation between the two production systems on a very significant geographical axis.
 
"Azerbaijan is at the heart of the crossroads between Europe and Asia and is a privileged gateway for international trade routes. In fact, in Baku, in November, there will be a meeting of fundamental importance that is COP29," said Barbara Cimmino, Vice President for Export and Investment Attraction of Confindustria. "Trade between Italy and Azerbaijan has doubled in five years, reaching EUR 12 billion, mainly due to the boost of energy imports that have made Italy Azerbaijan's leading trade partner. But there are the premises to improve it further, as Italy is one of the most complex and diversified economies in the world, besides being a major global exporter and a transforming country. Our manufacturing is in fact appreciated all over the world and this year we reached 4th place as a world exporter. The national manufacturing system boasts cutting-edge technologies and skills, often in world leadership positions, allowing for a significant development of our exports to the country, which stood at 376 million euro in 2023, marking a +23% compared to 2022, and with 2024 confirming this trend with a further increase, in the last 5 months, of almost 40%".
 
"Cooperation between Italy and Azerbaijan on the energy front is crucial, starting with the project to double the capacity of the TAP, a strategic infrastructure for our country's energy security. Also on the renewable energy front, Azerbaijan's location offers unique opportunities for a range of alternative energy sources, including solar, wind and geothermal. COP 29 in Baku in November will be a key appointment to jointly support industrial policies for decarbonisation, based on competitiveness, technology neutrality, sustainability of the transition pathway, industrial cooperation and public-private partnerships,' he added Aurelio Regina, Delegate of the President of Confindustria for Energy.

"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 been looking after the 16 Azerbaijani companies that participated in today's round table. The Azerbaijani companies aim 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 expertise in various sectors and Azerbaijan's strategic location and favourable investment climate," said Yusif Abdullayev, Executive Director of AZPROMO.