BAKU: Azerbaijan-Italy business forum held

AzerTag, Azerbaijan
Feb 25 2005

[February 25, 2005, 17:17:17]

The Azerbaijan-Italy business forum was held at the `Aldrovandi
Palace’ of Rome, February 25. President of Azerbaijan Ilham Aliyev
attended the forum.

The Forum organized by the Ministry of Economic Development of
Azerbaijan and the Foreign Trade Institute of the Ministry of
Production Activity Affairs of Italy, was opened by rector of the
Institute Baniamino Quintieri. Then, speaking was the ambassador of
Italy in Baku Margarita Costa and minister of Economic Development of
Azerbaijan Farhad Aliyev, who dwelt on necessity of expansion of the
economic links between two countries, involvement if Italian
businessmen to invest in Azerbaijan’s economy.

As was stated, over 60 businessmen from 50 companies of Azerbaijan
were attending the Forum. They represented mainly the fields of light
industry, metallurgy, machine building, construction, furniture
production, and information technologies. Some 170 businessmen of
Italy took part at the action.

It was also stated that Azerbaijan’s Company `Gilan’ and the Italian
`Betvend TMCI Padovan’ Company has reached a 5-million Euro agreement
on construction of a tinned food factory. `Lotos’ of Azerbaijan and
`Aredo Luchia’ companies have sealed a deal on creation of joint
enterprise of production of chandeliers and other household devices.

The Italian businessmen have taken deep interest in many fields of
Azerbaijan economy, including agriculture.

President of Azerbaijan Ilham Aliyev made a large speech at the
Forum. He spoke of his successful visit to Italy, noting it would
give good impulse to development of economic links between two

Speaking of the socio-political stability established in the country
under the leadership of the nationwide leader of Azerbaijan Heydar
Aliyev, Head of the Azerbaijan State dwelt on economic reforms
conducted in the Republic, also emphasized that a good environment
has been created for the foreign investment in the country.

President Ilham Aliyev spoke of the works done in the country’s
oil-gas sector in the frame of the `Contract of the Century’ signed
on development of the hydrocarbon reserves on the Caspian in the
Azerbaijan sector, on billion dollars of investment made by foreign
companies, on successful realization of the one of the largest
projects in world – the Baku-Tbilisi-Ceyhan Main Export Pipeline.

Giving high value to the existent economic links between two
countries, head of the Azerbaijan State reminded the Italian `Eni’
Company cooperating with Azerbaijan oil projects since 1995, stressed
that increase of commodity turnover and mutual trade widening of
economic cooperation serves interests of two nations.

President Ilham Aliyev dwelt on integration of Azerbaijan to Europe,
saying the country successfully copes with its duties in the global
safety, in establishment of peace and tranquility in region.

Speaking of the reasons of the Armenia-Azerbaijan, Nagorno-Karabakh
conflict, its heavy sequences, Mr. Aliyev said delay of the problem
hampers economic progress and security. President of Azerbaijan
reminded the talk processes mediated by the OSCE Minsk Group in this

Head of the Azerbaijan State expressed confidence that bilateral
relations between two countries would further develop for the
national interests of two states.

Then, President Ilham Aliyev talks to the Italian businessmen.


Afterwards, President of Azerbaijan talked to member of the Italian
parliamentary delegation at the Council of Europe, Senator Fiorello
Provera. Cooperation of Azerbaijan with PACE and support of
Azerbaijan by Italy was in focus. Head of the Azerbaijan State
thanked Mr. Provera.


On February 25, President Ilham Aliyev met with John Powell, Regional
Director of World Food Program.