With roots going back north of 100 years, the connection among Azerbaijan and Italy has gone the distance and developed into a multi-faceted vital organization. In any event, during Individuals’ Republic period, Italy assumed an essential part, holding the command for Azerbaijan. Following Azerbaijan’s recovering state autonomy, the financial and political ties between the two countries kept on moving along.
A critical achievement in this getting through organization was set apart on February 20, 2020, when President Ilham Aliyev visited Italy, highlighting the elevated degree of relations between the two nations. During this visit, the Joint Announcement on Reinforcing the Multi-faceted Key Organization between the Republic of Azerbaijan and the Republic of Italy was endorsed in Rome. This statement prepared for improved collaboration in the oil and gas area as well as across different features of the economy, empowering Italian interests in Azerbaijan’s industry, agribusiness, foundation, the travel industry, transport coordinated operations, and that’s only the tip of the iceberg.
Appointments of Unfamiliar Services examine key organization
The Service of International concerns of the Republic of Azerbaijan and the Service of International concerns and Global Participation of the Italian Republic have held one more round of political conferences in Rome, Italy.
The assignments were driven by Azerbaijan’s Agent Clergyman of International concerns, Fariz Rzayev, and Italian Appointee Priest for International concerns and Global Participation, Edmondo Cirielli.
During the gathering, the sides investigated multi-layered key organization between the two nations in light of customary kinship and common trust and its reinforcing, as well as the conceivable outcomes of hardening relations in the political, exchange financial, energy, protection and security, transport, planned operations, and helpful spaces.
The two players stressed the significance of proceeding with undeniable level equal visits, as well as holding the Essential Exchange and the following gatherings of the Intergovernmental Commission for supporting the organization.
The conversations additionally spun around shared interest on global and local plan, as well as extending participation in multilateral arrangements.
The Italian designation was advised on the arrangements for COP29, scheduled to happen in Azerbaijan this November, and the related undertakings. Azerbaijan’s Representative Unfamiliar Clergyman gave an outline of the local scene, featuring Azerbaijan’s undertakings toward encouraging enduring harmony in the area, tending to the difficulties presented via landmines and the continuous reclamation and recreation projects in the freed domains. Conversations likewise centered around possible areas of collaboration among Azerbaijan and Italy in resolving these issues.
The gatherings highlighted the significance of social, logical, and instructive exchanges between the two countries, especially those inside the structure of the Italy-Azerbaijan College in Baku.
During the visit, Fariz Rzayev likewise met with other Italian authorities, and conveyed a discourse at the occasions organized at renowned research organizations in Rome.
Italy, Azerbaijan financial organization
Italy as of now remains as one of Azerbaijan’s fundamental exchange accomplices, with a common exchange turnover surpassing 15 billion US dollars. It has been an accomplice beginning around 2020, and last year, as indicated by the measurements of the State Customs Board of trustees, items worth 15 billion 208 million bucks were sent out from Azerbaijan to Italy. Moreover, items worth $477 mln and 903 thousand were imported from Italy to Azerbaijan.
While the oil and gas area has customarily ruled financial relations, ongoing years have seen an enhancement of collaboration into the non-oil area. A sum of 114 Italian organizations work in different areas in Azerbaijan, including industry, development, exchange, horticulture, correspondence, and administrations.
Oil and gas firms, as well as non-oil organizations, are dynamic players in the Italian market. They are workers for hire on 277 undertakings adding up to 9.9 billion bucks in the oil and gas industry, while they are engaged with 37 tasks adding up to 708 million bucks in the non-oil industry.
Italy’s huge offer in Azerbaijan’s energy
Italy’s situation in Azerbaijan’s energy climate is especially huge concerning the Trans Adriatic Pipeline (TAP) project. At the boundary among Greece and Turkey, TAP joins TANAP straightforwardly to send gaseous petrol to southern Italy by means of the Adriatic Ocean, Greece, and Albania. Around 10 billion cubic meters of flammable gas were conveyed to Italy through the Trans Adriatic Pipeline (TAP) in 2023. Furthermore, the consortium expressed that TAP will actually want to supply an extra 1.2 billion cubic meters of gas every year beginning in 2026.
Flammable gas from the huge Shah Deniz field in the Caspian Ocean’s Azerbaijani locale is moved to Europe by TAP. The 878 km pipeline traverses the Adriatic Ocean, Greece, Albania, and Southern Italy prior to associating with the Trans Anatolian Pipeline (TANAP) at the Turkish-Greek line close to Kipoi.
