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Azerbaijan, Italy trade turnover hits $2.5 billion in Q1

Christian Fernsby |
The volume of trade turnover between Italy and Azerbaijan increased by 13.82 percent year-on-year in January-April, amounting to $2.5 billion, the official website of Azerbaijan's Energy Ministry has reported with reference to the videoconference of the two countries' Joint Intergovernmental Commission on economic cooperation.

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It was noted during the video conference that the volume of import and export also increased by 14.50 and 13.77 percent in 2020 respectively.

Between January-April 2020, Italy's share in Azerbaijan's foreign trade turnover was 26.36 percent), including 38.15 percent in exports and 4.39 percent in imports.

The videoconference was held in a bid to discuss the tasks set by the president during his visit to Italy in February this year, as well as the status of execution of the signed documents.

The videoconference was attended by Energy Minister Parviz Shahbazov and State Secretary of Italy for Foreign Affairs and International Cooperation Manlio Di Stefano, representatives of the Ministry of Foreign Affairs, Ministry of Economy of Azerbaijan, SOCAR, Azerbaijan Investment Company OJSC, AZPROMO, State Oil Fund of Azerbaijan Republic, Ministry of Foreign Affairs, as well as International Cooperation of Italy and several Italian companies.

Moreover, the sides discussed measures taken in the country to fight coronavirus, allocation of $10 million by the Azerbaijani government to the World Health Organization, as well as provision of humanitarian aid to the countries suffering from the pandemic, including Italy.

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