The 4th meeting of the Italian-Azerbaijani Intergovernmental Commission on Economic Cooperation was held in Rome on June 13.
The Minister of Economic Development of Italy Paolo Gentiloni in his speech said that the Trans-Adriatic gas pipeline project is of strategic importance for Italy and the beginning of the gas supplies is to be commissioned in 2020.
According to him, last year the mutual trade turnover amounted to 5 billion Euro and continues to grow.
Gentiloni noted that economic cooperation should not be limited to the energy sector. There are opportunities for cooperation in various fields.
The Minister also said that Italy supported Germany's efforts as OSCE chairman to settle the Armenian-Azerbaijani conflict. In the case of the election of Italy the Chairman of OSCE in 2018, it will make every effort to resolve the conflict, he added. -02D-
Economics
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According to the State Customs Committee, in the first eleven months of this year, Azerbaijan transported 6.96 million tons of cargo by rail, worth $3.01 billion. This represents a 4% decrease in volume and a 10.1% decline in value compared to the same period in 2023.
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The Cabinet of Ministers of Azerbaijan has approved a set of regulations to govern the approval of agreements under the country’s competition law, aimed at fostering compliance with legal frameworks and enhancing market transparency.
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Azerbaijan's ambitious program to restore territories liberated from Armenian occupation has attracted attention due to the extensive use of single-source procurement methods, raising concerns about transparency and corruption.
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Azerbaijan recorded a 2% increase in wheat imports from January to November 2024 compared to the same period in 2023, underscoring its continued reliance on external sources to meet domestic demand. This growth comes amid a significant decline in domestic wheat production, which decreased by 148,100 tons in 2024, further intensifying the need for imported supplies.
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