Minister: Italian companies invest about $530M in Azerbaijan

  20 July 2018    Read: 1205
Minister: Italian companies invest about $530M in Azerbaijan

In total, the investments of Italian companies in Azerbaijan have amounted to about $530 million, and the volume of Azerbaijani investments in Italy is estimated at $135 million, the Minister of economy of Azerbaijan Shahin Mustafayev said during a meeting with the Deputy Minister of economic development of Italy Michele Geraci in Baku on July 19.

Mustafayev said the two countries have great potential for expanding economic relations, in particular in such areas as energy, agriculture, industry, trade, investment, transport, environment.

"Azerbaijan is interested in the actualization of the existing potential and development of economic relations between the countries. Italian technologies are used in a number of enterprises operating in Azerbaijan. We can also import technologies for such areas as agriculture and industry. In addition, Italian companies can take part in investment projects in Azerbaijan, invest in industrial parks and quarters, agricultural parks and logistics centers and take advantage of the opportunities of such projects as the Baku-Tbilisi-Kars railway and the Baku international sea trade port, as well as the free economic zone to be established in the village of Alat," the minister said.

In his turn, Michele Geraci noted that, Azerbaijan is an important partner for Italy. He noted the successful cooperation between the countries in various sectors of the economy.

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