Azerbaijan and Italy to establish joint enterprises and cooperate on Garabagh reconstruction

Azerbaijan and Italy are set to create joint enterprises in multiple fields in the near future, according to Manuela Traldi, President of the Italy-Azerbaijan Chamber of Commerce, Azernews reports that speaking to reporters in Rome, Traldi highlighted the strong potential for collaboration between the two countries.

"We held very useful and effective meetings with our Azerbaijani colleagues with the participation of representatives of the private sector. A high-level round table with the participation of the Minister of Entrepreneurship of Italy and the Minister of Economy of Azerbaijan is planned," said Traldi.

Discussing the activities of the Chamber of Commerce, she emphasized that the organization is focused on attracting investments to Azerbaijan. "We do it in different ways, we try to promote Azerbaijan in Italy, we use all the elements that can help attract investments from Italian companies. Pinning our hopes on the Trans-Adriatic Pipeline (TAP) project, we created the Italian-Azerbaijani Chamber of Commerce back in 2012. Personally, I was sure that TAP will be realized someday and our countries will become closer," she stated.

Traldi further explained that several projects are currently in progress, noting close cooperation with Azerbaijan's investment companies, the Export and Investment Promotion Agency (AZPROMO), and the Ministry of Economy. "I think that the prospects are very big. We will create joint ventures that will bring the most advanced Italian technologies to the business environment and production environment in Azerbaijan. This will contribute to the further development and diversification of the economy," she added.

The joint ventures will prioritize the industrial sector, including petrochemicals, metallurgy, and agriculture. "We have several projects that will support the future development of agriculture in Azerbaijan. In addition, we are developing new projects in the health sector, in the industrial sector, as well as in other areas where Italy has innovation. We are talking about the food industry, as well as sectors such as leather processing, shoe production, and textiles," Traldi said.

Italian companies are also eager to participate in the reconstruction of Garabagh. "The Italian government is making efforts to conclude more contracts for Italian companies to implement projects in Azerbaijan. There are more and more opportunities for Italian business in the liberated territories," said Traldi.

Shortly after the end of the 44-day war, Italy dispatched a mission to Garabagh. "Italy has always supported Azerbaijan in the Garabagh issue, and we are glad that we can participate in the reconstruction of Garabagh in various ways. This is one of the main aspects of our relations," she noted.

It is important to mention that Italy remains one of Azerbaijan's key trading partners.