Azernews.Az

By Rasana Gasimova

2019 has been a fruitful year in terms of Baku-Rome relations, Azerbaijani Ambassador to Italy Mammad Ahmadzade has told the Italian media. The ambassador also said that the Azerbaijani gas will reach Italy next year after the launch of the Trans Adriatic Pipeline that is part of the Southern Gas Corridor.

“Italy remained Azerbaijan’s largest trade partner in 2019, and Azerbaijan remained Italy’s largest crude oil supplier and the biggest importer of Italian goods in the South Caucasus. In 2020, the TAP gas pipeline will be launched and the first Azerbaijani gas will be transported to Italy,” Ahmadzade said.

Ahmadzade added that Azerbaijan-Italy business forum will be held in Italy in 2020 and will contribute to the diversification of the bilateral economic cooperation.

“There are industries with great potential, such as agribusiness, construction, and technology, where our companies can find more opportunities for cooperation,” the ambassador said.

Italy is one of the main buyers of Azerbaijani oil. Italian company Eni has been involved in several projects for the operation of oil and gas fields in Azerbaijan since 1995, which laid the foundation for economic cooperation between the two countries.

TAP is a strategic project that will strengthen Italy’s energy security and will be able to guarantee more competitive gas supplies for Italy, in a context of constantly growing international prices.

Italy is an important economic and trade partner of Azerbaijan. Italy accounts for about 20 percent of the country’s trade turnover with foreign countries. The trade turnover with Italy was approximately $4.7 billion in 2017. Azerbaijan exports to Italy mainly oil and oil products, as well as chemical industry products, while Italy supplies products, light and food industry products to Azerbaijan.

The two countries are expanding relations in non-oil sector, energy, infrastructure, transport, ICT, tourism, agriculture, wine-making and others.

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