Baku marks 71st anniversary of Italian Republic

By Azernews

By Amina Nazarli

A solemn event dedicated to the 71st Anniversary of the new system of government in Italy was held in Baku on June 3.  

On this day in 1946, Italy ceased to be a monarchy and moved to the republican system of government.

Italian Ambassador to Azerbaijan Giampaolo Coutillo greeted the guests of the evening saying that for 25 years, Italy and Azerbaijan have continued successful strategic cooperation based on three postulates -- political dialogue, economy and culture.

"Italy is the most important trade partner of Azerbaijan. We intend to further deepen mutually beneficial cooperation in all directions," the ambassador said.

The event was also addressed by Deputy Chairman of the Azerbaijani Parliament Valeh Alasgarov, who congratulated the government and the people of Italy.

He stressed that Italy and Azerbaijan are reliable friends and partners for many years. "Italy and Azerbaijan have been developing successful economic cooperation for many years, which is the key to a successful political dialogue," the MP said.

Azerbaijan is an important economic partner of Italy. The Italian companies operate successfully in Azerbaijan, particularly, in the energy sector.

In 2016, the trade turnover between Azerbaijan and Italy amounted to $1.89 billion decreasing by 33.5 percent as compared to 2015. Italy, which has been ranking first among major trade partners of Azerbaijan during eight years, was the third in late 2016.

However, in early 2017, Italy again became the leader among Azerbaijan’s trade partners. The two countries’ trade turnover amounted to $461.5 million in January-March 2017, increasing by 41.4 percent as compared to the 1Q2016.