BAKU, Azerbaijan - Azerbaijan and Italy want to increase annual bilateral trade from €8 billion in 2025 to more than €10 billion by expanding investment and cooperation beyond the energy sector.
The target was announced after talks in Rome between Azerbaijani Economy Minister Mikayil Jabbarov and Italian Minister of Enterprises and Made in Italy Adolfo Urso. The meeting concluded a two-day visit by an Azerbaijani delegation.
Technology and Critical Raw Materials
The two sides discussed investment projects, technology partnerships, critical raw materials, innovation and the development of strategic supply chains.
Representatives of major Italian companies involved in energy, industrial engineering, digital technology and materials processing took part in the talks. They included Eni, Snam, Saipem, Ansaldo Energia, Danieli, Aruba, TIM and Circular Materials.
Italy remains the largest market for Azerbaijani exports and ranks seventh among suppliers of goods to Azerbaijan. Energy continues to underpin bilateral trade, but the new target calls for broader industrial and technological cooperation.
Urso described the talks as the start of a new strategic phase in cooperation between the two countries. No deadline for reaching more than €10 billion in annual trade was announced.
Sources: Vesti Baku; Report.az.