BAKU, Azerbaijan, September 25. Concrete plans are being developed to locate manufacturing facilities of Italian companies in Azerbaijan's free economic zones, Maurizio Tamagnini, Founder and CEO of Fondo Strategico Italiano (FSI), said Friday at the second Azerbaijan International Investment Forum in Baku, Trend's correspondent reports from the event.
According to him, FSI, together with the Azerbaijan Export and Investment Promotion Agency (AZPROMO) and the State Oil Fund of Azerbaijan (SOFAZ), is working to expand cooperation between Italy, Azerbaijan and Central Asia.
Tamagnini noted that a major Italian delegation visited Azerbaijan in February, including representatives of companies with a combined market capitalization of more than $100 billion. According to him, these companies employ nearly 300,000 people.
"If we can really connect two regions, such as continental Europe and Italy, with Azerbaijan and Central Asia, and Italian technology companies follow the major companies that are already operating here, this will be a modern way of partnership," he said.
He noted that Italian companies such as Eni, Leonardo and Tecnimont are already operating in Azerbaijan.
Tamagnini also spoke about the development of working contacts between Italy and Azerbaijan.
"There are working groups traveling from Milan and Rome to Baku, as well as visits in the opposite direction. There are very active exchanges between the people of the two countries. There are also programs aimed at student exchanges and training future leaders, including through scholarships for studying in the two regions. The sides are beginning to develop concrete plans to locate manufacturing facilities of Italian companies in Azerbaijan's free economic zones," he said.
As an example, he cited pharmaceutical company Kedrion, which specializes in plasma-derived medicines.
"If we can establish the entire regional cycle here, from research to production, so that products are no longer supplied from outside and there are not just commercial offices here, I think this would be an excellent example that could then be replicated with other companies," he said.
Speaking about FSI's cooperation with SOFAZ, Tamagnini noted that the fund has been a long-standing partner of the organization.
According to him, Italy has traditionally also offered Azerbaijan opportunities to invest in the Italian economy as part of this cooperation, but the sides are now seeking to move toward a broader partnership format.
