Azernews.Az

By Ayya Lmahamad

The Trans-Adriatic Pipeline (TAP) project is ready for the commercial operation and the commercial transportation of Azerbaijani gas to Europe is to start in late 2020.

Azerbaijani Energy Minister Parviz Shahbazov made the remarks at a meeting with Italian Ambassador to Azerbaijan Augusto Massari.

The two men described the project as an important element of cooperation between the two countries, also significant for Italian and other European consumers.

Moreover, the meeting noted the successful development of Azerbaijani-Italian relations in various economic spheres and stressed the crucial role of long-term energy cooperation.

Furthermore, the documents signed during Azerbaijani President Ilham Aliyev official visit to Italy in February 2020, and the implementation of the protocol of the 5th meeting of the Intergovernmental Commission on economic cooperation between Azerbaijan and Italy were discussed.

Likewise, the ambassador expressed his deep condolences to the Azerbaijani people, families and their loved ones for the victims of Armenian military provocations, and appreciated the trilateral statement.

He expressed interest in the restoration and reconstruction of Italian infrastructure companies on the liberated territories of Azerbaijan.

Additionally, the parties exchanged views on bilateral cooperation in various fields and investment opportunities in the energy sector. In addition, the participation of Italian companies in projects in various fields, as well as in the development of traditional and renewable energy sources, and the opportunities for companies to expand their activities as investors in Azerbaijan were discussed during the meeting.

The issues arising from the preparation for the next meeting of the Intergovernmental Commission on economic cooperation between Azerbaijan and Italy, as well as the cooperation documents signed between the various bodies of the two countries were also reviewed.

Earlier it was reported that Italy remained Azerbaijan’s main trading partner between January and October 2020, with a trade turnover between the two countries amounting to $4.2 billion out of total country's turnover of $17.8 billion. Of total trade, the export from Azerbaijan to Italy amounted to $3.8 billion, while the import from Italy to the country amounted to $341 million.

It should be noted that Italy was Azerbaijan’s top trade partner in 2019 as well with the mutual trade amounting to $7 billion and Azerbaijan was the largest supplier of crude oil to Italy. Thus, Italy is one of Azerbaijan’s main trade partners in the world and some 113 Italian companies, operating in various fields, are registered in Azerbaijan.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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