TODAY.AZ / Business

Italian analyst: Azerbaijani gas to allow Italy to turn into European gas hub

21 February 2020 [15:56] - TODAY.AZ

By Trend


The state visit by Azerbaijani President Ilham Aliyev to Italy is historic, Domenico Letizia, Italian economic and geopolitical analyst, who is cooperating with Imprese del Sud Think Tank, told Trend.

“This is the first state visit by Azerbaijani President Ilham Aliyev to Italy, with which excellent relations are maintained in the political, economic, cultural and scientific fields,” Letizia noted. “This successful visit is a significant step towards the development of relations between Azerbaijan and Italy.”

The Italian analyst noted in particular that the joint declaration signed between Azerbaijan and Italy during this visit is a new stage in bilateral relations.

Letizia added that the meetings held by the Azerbaijani president with Italy’s senior officials, as well as with representatives of Italian companies representing various fields, are the basis for the development of commercial and business exchanges.

“The Azerbaijani-Italian business forum, which is being held as part of this historic visit, is also of particular importance in the development of relations, in particular in such areas as agriculture, production of industrial equipment, transport and infrastructure, ICT, energy and environmentally friendly technologies,” said the analyst.

“Italy and Azerbaijan are important partners,” Letizia added. “Azerbaijan maintains strong commercial relations with Italy not only in the energy sector, but also in other sectors of the economy. Azerbaijan has taken a course to diversify its economy, and Italy in this aspect can play an important role, including in sectors such as agriculture, infrastructure and IT services. The capabilities of the Port of Baku and free trade zones are also important in the expansion of bilateral economic relations.”

However, the energy component is also a priority, given the active implementation of the Trans Adriatic Pipeline (TAP) project, the Italian analyst said.

“The implementation of the TAP project is of particular importance for Italy, since this project will allow the country to overcome energy problems and turn into European gas hub,” Letizia noted. “By the end of 2020, Azerbaijani gas will go to Italy and from there will be delivered to other European countries. This project will significantly change the energy map of Europe and will increase competition in the continent’s gas market.”

The analyst said that the state visit by President Ilham Aliyev to Italy is also timed to coincide with the opening of the Year of Azerbaijani Culture (2020) in Italy.

“As part of this event, shows, theater performances, concerts, exhibitions and meetings throughout Italy will be held within ten months, and this will allow Italians to get even closer acquainted with Azerbaijan’s traditions and culture,” Letizia added.

URL: http://www.today.az/news/business/191310.html

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