Azerbaijan eyes co-op with Italy in green technology sphere

Baku, Azerbaijan, July 19

By Huseyn Veliyev - Trend:

Azerbaijan invites Italian companies operating in the field of "green technologies" to implement projects in the country, Deputy Minister of Economy of Azerbaijan Rufat Mammadov told reporters.

The sphere of alternative and renewable energy may be one of the priority areas of cooperation, the deputy minister said.

"As you know, Azerbaijan has great potential in this area. A number of projects are being implemented in the country. Italy is also specialized in this field. There are specialized companies operating in the field of "green technologies" in this country, and we would like them to take part in the projects implemented in Azerbaijan," Mammadov said.

Mammadov added that Italy's investments in the economy of Azerbaijan exceed $500 million.

The volume of investments of Azerbaijani companies in the Italian economy exceeds $140 million, Mammadov said.

"Italy is an important economic and trade partner of Azerbaijan. Italy accounts for about 20 percent of our trade turnover with foreign countries. The trade turnover with Italy was approximately $4.7 billion in 2017. You know that in addition to trade relations, we are also working to diversify the structure of trade. We regularly organize meetings with business people for this purpose. In addition, the two countries have broad investment ties. Italian companies are present in many sectors today, among which we can note the spheres of industry, services, agriculture and others," Mammadov said.