Economy Minister Mikayil Jabbarov begins a two-day visit to Italy today.
“Operative Information Center-OMM” reports, citing Italian media, that senior officials from leading Azerbaijani state and private companies, including investment firms, will accompany him.
The delegation includes representatives of the State Oil Company of Azerbaijan (SOCAR), Azerbaijan Investment Holding, “AzerGold” CJSC, “Azeraluminium” LLC, “Baku Steel Company” CJSC, “PASHA Holding” LLC, the Center for Analysis and Coordination of the Fourth Industrial Revolution (4SIM), operating under the ministry, and the “Azerbaijan Business Development Fund” OJSC.
In May this year, SOCAR acquired a 99.82% stake in Italiana Petroli (IP) from API Holding. As a result, Azerbaijan’s direct investment in Italy totaled $3.2456 billion in the first half of the year, 309.4 times higher than in the same period last year. Italy’s share of Azerbaijan’s foreign direct investment rose from 0.8% to 64.9%.
Trade turnover between Azerbaijan and Italy amounted to about $9.2 billion in January-September this year, up 3.2% compared with the same period in 2025. Exports accounted for about $8.8 billion, up 3%, while imports totaled $400 million, up 6.6%.
