Baku: The 6th Meeting of the Joint Intergovernmental Commission on Economic Cooperation between Azerbaijan and Italy was held in Baku. Prior to the meeting, the co-chairs of the Commission, Minister of Energy of Azerbaijan Parviz Shahbazov and Deputy Minister of Foreign Affairs and International Cooperation of Italy Edmondo Cirielli, held a bilateral meeting.
According to Azerbaijan State News Agency, the sides hailed the successful development of the Azerbaijani-Italian strategic partnership, spanning sectors from energy to industrial production. Discussions focused on strengthening high-level political and economic relations through new projects, energy security, partnership with the European Union, and priority areas of bilateral cooperation.
Energy Minister Parviz Shahbazov highlighted that reciprocal visits of state leaders and the signing of the Joint Declaration on Strengthening Multidimensional Strategic Partnership in 2020, along with 27 documents, have elevated interstate relations. The visit of the President of Italy to Azerbaijan last year, the opening of the Italy-Azerbaijan University, and the commissioning of a major power plant with Ansaldo Energia’s contribution were noted as milestones. Investments by the State Oil Fund and SOCAR in Italy further underscore the forward-looking strategic agenda of the two nations.
Italy remains Azerbaijan’s largest trading partner, accounting for 25% of Azerbaijan’s foreign trade turnover and 46.7% of its exports. Azerbaijan has invested 342 million USD in Italy, while Italy has invested 805 million USD in Azerbaijan. The State Oil Fund’s investment portfolio in Italy is valued at 2.8 billion USD. The importance of signing an agreement on investment promotion and mutual protection was emphasized to foster growth. In the previous year, Italy received 10.34 million tons of oil and 9.5 bcm of gas through SOCAR. TAP has supplied 54.3 bcm of gas to Europe, with Italy receiving 45.4 bcm. Italy’s CESI SpA is consulting on feasibility studies for the Caspian-Black Sea-Europe and Central Asia-Azerbaijan green energy corridor projects, which will be commissioned in stages from 2032.
Deputy Minister Edmondo Cirielli noted the Commission’s focus on expanding investment and business opportunities in both nations, alongside enhancing economic, cultural, and interpersonal ties. Italy serves as a primary gateway for Azerbaijan to the Mediterranean basin and the EU market.
The discussions reviewed political cooperation and collaboration in various sectors including trade, energy, transport, ICT, healthcare, science, and culture. The wide representation of the Made in Italy brand in Azerbaijan, the delivery of C-27J Spartan military transport aircraft, the 334 flights by AZAL to Milan, and the tourism exchange were highlighted. Projects by Azerbaijani First Vice-President Mehriban Aliyeva in Italy have contributed to cultural and humanitarian cooperation.
The meeting concluded with the signing of the Protocol on the outcomes of the 6th meeting and the adoption of an Action Plan for 65 activities across 18 areas for 2026-2027.