On November 13, Azerbaijan-Italian Business Forum was organized by the Azerbaijan Export & Investment Promotion Foundation (AZPROMO).
Along with officials from both sides, the representatives of about 300 companies operating in industry, construction, financing, ICT, energy, infrastructure, architecture, hydropower, and design took part in the business forum held in Baku Business Center.
 Deputy Minister Niyazi Safarov highlighted successful development of the relations between Azerbaijan and Italy.He told that both countries attach great importance to the expansion of cooperation and these relations based on the principles of respect and friendship, as well as mutual interest. It was noted that the two countries had great potential for further expansion of economic cooperation. Deputy Minister Niyazi Safarov pointed out that business forums, business meetings and other events play an important role in the development of economic relations and today's business forum contributes to the further development of relations among businessmen. So far, 30 documents on the development of cooperation in various fields with Italy were signed. Italy is the largest trade partner of Azerbaijan and the trade turnover of 9 months increased by more than 10% compared with the same period last year. In the last decade 47.9 million dollars was invested in Azerbaijan's main capital by Italy, as well as 65.6 million dollars directly in the non-oil sector. At present, 45 companies with Italian capital in trade, industry, construction, investment banks and insurance are operating in Azerbaijan.Giving information about the economy of Azerbaijan Niyazi Safarov noted that Azerbaijan has political and macroeconomic stability, as well as conituous and sustainable economic development. It was noted that Azerbaijan is reliable partner in provision of European energy security and participates in global energy and transport projects.Deputy Minister of Economic Development of the Republic of Italy Carlo Kalenda expressed his satisfaction with his visit to Azerbaijan, and stressed importance of efficient use of the current potential in further expansion of economic relations between Azerbaijan and Italy, expansion of the relations between businessmen in the development of Italian-Azerbaijani economic-trade cooperation, as well as trends of the development of economic relations.
Azerbaijani ambassador to Italy Vagif Sadigov and the Ambassador of the Republic of Italy to Azerbaijan Giampaolo Kuttilio highlighted that the two countries have a great interest in further development of the relations. Furthermore they emphasized successful development of the cooperation between Azerbaijan and Italy, and expressed their confidence in further development of cooperation.The head of AZPROMO Rufat Mammadov and the president of ICE-Italian Trade Promotion Agency Riccardo Maria Monti made presentations on business and investment climate of Azerbaijan and Italy.
During business forum a memorandum of understanding and cooperation was signed by AZPROMO and ICE-Italian Trade Promotion Agency.
Within the framework of the business forum the seminars on "Infrastructure and construction", "Oil and gas" was organized with the participation of relevant government agencies and businessmen from Azerbaijan and Italy. The representatives of the ministries of Ecology and Natural Resources, Health, Transport and Energy, the State Committee for Architecture and Urban Planning, the Baku Metro, SOCAR and "Shahdaniz" of Consortium made presentations in the seminars. Moreover, bilateral meetings were held between businessmen.