AZERBAIJAN, ITALY SIGN PROTOCOL ON COOPERATION
Heydar Babayev and Pier Luigi Bersani, Ministers of Economic Development of Azerbaijan and Italy, signed a protocol on cooperation in Baku enabling transportation of Azerbaijan`s natural gas to Europe.
At a meeting prior to the signing ceremony, Babayev spoke about successful socio-economic reforms conducted in his country.
He said after President Ilham Aliyev’s official visit to Italy in 2005, diplomatic relations between Azerbaijan and Italy started developing.
He noted the importance of an intergovernmental commission for economic cooperation, which was set up in 2006.
The Azeri Minister stressed development of ties with Italy is one of the main priorities in Azerbaijan’s foreign policy.
Babayev said last year trade between Azerbaijan and Italy was $2.9 billion, adding “there is a great potential for expansion trade relations in non-oil sector“.
The Azeri Minister underlined Italian businessmen are working in various fields in Azerbaijan, including agriculture, production of wine and vegetable oils, construction, oil-chemistry and tourism.
Heydar Babayev stressed the importance of holding business forums, business trips, exhibitions and fairs between the Azerbaijani and Italian entrepreneurs.
Pier Luigi Bersani said Italy is one of the biggest natural gas consumers in the world.
Bersani stressed the protocol will give Azerbaijan an opportunity to export its gas resources to Italy.
Chief Executive Officer of Italian Edison S.p.A. Company Umberto Quadrino was also present at the meeting.
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