Italian companies explore Azerbaijani market for investments

/By Azernews/

By Amina Nazarli

An Italian business delegation of 15 companies engaged in various spheres of the economy arrived in Baku to explore the local market for doing business and making investments here.

The Italian businessmen, who are in the country for the first time, held their first meeting with Italian Ambassador to Baku Giampaolo Cutillo and Italian Trade Commissioner Luigi D’Aprea on April 12.

The businessmen, coming from Italy’s Sicilia and representing medicine, logistics, alternative energy, engineering, construction, foodstuff, culture and jewelry sectors, discussed which spheres can be developed in the country.

Ambassador Cutillo, addressing the meeting, said that the two countries are developing the bilateral relations rapidly, particularly in the oil and gas sector.

He underlined that Italy closely cooperates with Azerbaijan in the Trans-Adriatic Pipeline (TAP) project, which is designed to transport natural gas from the giant Shah Deniz II field of Azerbaijan to Europe.

Emphasizing that many projects are connecting the two countries, Ambassado Cutillo stressed that the two sides should also develop other sectors besides the energy.

“I had the opportunity to brief them about my experience here and talk about the potential and opportunities that the market offers,” the ambassador said following the event.

“Currently, Azerbaijan is going through delicate phase of its development. However, the country has a lot to offer. We are observing a strategic commitment to making reforms and diversifying the Azerbaijani economy, so I believe that Italy has much to offer in this regard.”

President of Italy Progress, Teresa Ingrao informed that the delegation has already familiarized with the Azerbaijani market.

“Before visiting the country, we have already analyzed the market and got acquainted with Azerbaijan,” she said.

President of Logistics Company ‘Giovanni Bella’ and Vice President of Italy Progress, Giovanni Bella also assured that the Azerbaijani market is very attractive for Italian companies. “Azerbaijan does not have many Italian investors in the moment. The fields are free and we hope that we can develop good business bringing the companies to Azerbaijan,” he said.

He said Italy has products of only good quality, and the Italian companies want to bring only best products to Azerbaijan.

Luigi D’Aprea, for his part, spoke about necessity of creating direct contacts between businessmen of the two countries.

“Bulk of the products sold in the country is exported from Russia, China and Turkey. But, “Made in Italy” products are always welcomed in Azerbaijan. We need time for more direct contact with the local market,” he explained.

Luigi D’Aprea , following the event said that the meeting was very interesting.

“The companies which participated in the meeting are very interested in cooperation with Azerbaijan. Now, there is a good opportunity for the two states to develop their relations,” he said.

During the visit that will last until April 15, the Italian businessmen will hold several meetings at the country’s ministries and meet with local entrepreneurs. The Italian entrepreneurs seek to visit the country once again in July.