Italy’s economic development minister due in Baku

The Azerbaijan-Italy Business Forum will be held in Baku during Italian Minister of Economic Development Carlo Calenda’s visit on Feb. 23, the Azerbaijan Export

Entrepreneurs representing more than 15 Italian companies will attend the business forum, Trend reports citing AZPROMO.

Italy is one of the main economic and trade partners of Azerbaijan. Italy’s investments in Azerbaijani economy amounted to about $500 million.

Azerbaijan and Italy have recently intensified cooperation. Baku Steel Company and Italy’s Danieli signed an agreement on the construction of a metallurgical complex in Azerbaijani city of Sumgayit in late 2016. Investments in the complex will exceed $1.2 billion.

According to the Azerbaijani State Customs Committee, trade turnover between Azerbaijan and Italy amounted to nearly $1.9 billion in 2016, around 84 percent of which accounted for export of Azerbaijani goods to Italy.


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