A video conference was held with the participation of the co-chairs of the Azerbaijani-Italian intergovernmental commission Parviz Shahbazov and Manlio Di Stefano

A video conference was held with the participation of the co-chairs of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Italy, Minister of Energy Parviz Shahbazov and Italian State Secretary of the Ministry of Foreign Affairs and International Cooperation Manlio Di Stefano to discuss the targets set by the Head of State during his visit to Italy in February of the current year, as well as the state of execution of signed documents. Representatives of the Ministries of Foreign Affairs and Economy of the Republic of Azerbaijan, SOCAR, Azerbaijan Investment Company OJSC, Azerbaijan Export and Investment Promotion Foundation (AZPROMO), State Oil Fund of the Republic of Azerbaijan and the representatives of the Ministry of Foreign Affairs and International Cooperation of Italy and several Italian companies also participated in the video conference.

They had an exchange of views on the current situation and prospects for international cooperation, bilateral relations during the coronavirus pandemic (COVID-19). During the video conference, the measures taken in our country to fight COVID-19, the donation of the $ 10 million to World Health Organization (WHO) by Azerbaijan, as well as the provision of humanitarian assistance to countries suffering from the pandemic, including Italy, on the initiative of the First Vice President of Azerbaijan Mehriban Aliyeva were discussed.

It was noted that in January-April 2020, trade between the two countries increased by 13.82% compared to the same period in 2019 and reached $ 2.554 million. It was also noted that this year imports grew by 14.50% and exports by 13.77%. For four months of this year, Italy's share in the foreign trade turnover of Azerbaijan amounted to 26.36% (1st place), including 38.15% in export (1st place) and 4.39% in import (6th place). Crude oil and liquid fuels have played a key role in export growth.

The co-chair of the commission, Minister of Energy Parviz Shahbazov, noted that the state visit of the President of the Republic of Azerbaijan Ilham Aliyev to Italy on February 20-21 was historic in terms of further development of relations between the two countries: "During this visit, which further strengthens strategic approaches to the political and economic relations of friendly partner countries, agreements were reached that would allow to see the advantages of the Azerbaijani-Italian partnership in all areas, as well as at the regional and global levels. Despite the difficulties associated with the pandemic, we must continue our efforts to implement the Action Plan to strengthen multidimensional strategic partnerships."

To this end, it was deemed practical to continue high-level visits, to hold the first meeting in the 3rd quarter of 2020 on the Azerbaijani-Italian strategic dialogue and hold regular political consultations between the Ministries of Foreign Affairs of both countries, as well as strengthen inter-parliamentary cooperation within international organizations.

The minister also expressed gratitude to the Italian government for the promotion of the TAP project: "We would be glad to see Giuseppe Conte, Chairman of the Council of Ministers of Italy, at the commissioning ceremony for the Southern Gas Corridor."

Manlio Di Stefano, Secretary of State for Foreign Affairs and International Cooperation of Italy thanked the President and the Government of Azerbaijan for their support in such a difficult period. He appreciated this support as an indicator of not only the strategic partnership of Azerbaijan and Italy, but also sincere friendship. The Italian side supported the initiative of the President of Azerbaijan to hold a special session of the UN General Assembly at the level of heads of state and government dedicated to the COVID-19 pandemic. Manlio Di Stefano noted that Azerbaijan was an important partner of Italy: "Last year, Azerbaijan was the largest supplier of crude oil to Italy. The state visit of the President of Azerbaijan is a milestone for the multifaced development of relations between the two countries at a new stage based on strong energy cooperation.”

At the meeting, issues of strengthening economic cooperation, including the expansion of investment cooperation, were also discussed. During the visit, issues arising from cooperation documents signed with Ansaldo Energia, Snam S.p.A., Cassa Depositi Prestiti SpA, Leonardo, IMA, Italian Trade Agency (ICE) and Simest were discussed. It was recommended to expedite the work between Azerbaijan Investment Company OJSC and CDP, SACE, Simest companies. The importance of timely coordination of the draft "Agreement on the Protection and Promotion of Mutual Investments between the Republic of Azerbaijan and the Italian Republic" and the "Memorandum of Understanding on Cooperation between the Ministry of Economy of the Republic of Azerbaijan and the Italian Guardia di Finanza" was noted.