Azerbaijan, Baku, April 26 / Trend, N. Ismayilova /
Azerbaijan and Italy signed an agreement on further economic cooperation at a joint business forum today in Baku. The document reflects issues of development of trade cooperation, establishing joint venture in various sectors of the economy, expanding interaction between the Azerbaijan Export & Investment Promotion Foundation (AZPROMO) and the Italian National Organization for External Trade Relations. The agreement also envisages the involvement of mutual investments.
The document was signed by Deputy Minister of Economic Development Niyazi Safarov from the Azerbaijani side, Italy's Deputy Minister for Economic Development Adolfo Urso from the Italian side.
The business forum between Azerbaijan and Italy was attended by over 100 entrepreneurs, 40 of which are Italians.
"Political relations between Azerbaijan and Italy are at a high level and trade and economic relations are developing as a continuation of these relations. We think that this business forum will give impetus to relations between the two countries" - Safarov said.
Trade turnover between the two countries amounts to about $4 billion, 128 million of which about fall to Azerbaijan's import; the rest part falls to exported Azerbaijan's export to Italy.
"We must seriously think about the diversification of export structure and give much attention to non-oil sector from both sides," - Safarov said.
According to Urso, Azerbaijan is one of the most reliable partners of Italy on the shore of the Caspian Sea.
"In the future an impetus will be given to expansion of spheres of our cooperation", - Urso said.