TODAY.AZ / Business

Enhancing Azerbaijan-Italy relations: Strategic partnership across energy & defense

27 June 2024 [08:30] - TODAY.AZ
Nazrin Abdul

Azerbaijan places significant emphasis on cultivating mutually beneficial relations with the Republic of Italy as a cornerstone of its foreign policy.

This strategic partnership spans critical sectors such as energy security and economic cooperation, underscoring Italy and Azerbaijan's roles as key strategic allies. The enduring friendship and collaboration between these nations are rooted in a shared commitment to mutual respect and the advancement of bilateral ties.

Azerbaijan allocates significant funds to its military sector and prioritizes partnerships with enterprises that manufacture advanced weaponry. Its collaboration with Italy holds particular significance in this context.

Highlighting a recent milestone on June 26 at Heydar Aliyev International Airport, coinciding with Azerbaijan's Armed Forces Day, President Ilham Aliyev, also serving as Supreme Commander of the Armed Forces, was ceremoniously presented with a C-27J Spartan military transport aircraft manufactured by Leonardo, a leading Italian aerospace company.

This event not only symbolized the depth of defense cooperation but also underscored the alignment of strategic interests between the two nations.

Italian Defense Minister Guido Crosetto, Deputy Minister of Foreign Affairs and International Cooperation Edmondo Chirielli, and Leonardo President Stefano Pontecorvo participated, providing comprehensive insights into the aircraft's capabilities, including military transport, paratrooper deployment, cargo airlifts, and medical missions.

It is worth noting that Italy has demonstrated its commitment to strengthening its strategic partnership with Azerbaijan through several significant steps. During the Patriotic War, Italy stood in solidarity with Azerbaijan, with its media recognized for its objective coverage of Azerbaijani issues. The declaration of 2020 as the "Year of Azerbaijan" in Italy underscored a special level of trust and recognition extended to Azerbaijan and President Ilham Aliyev.

Italy plays a pivotal role as Azerbaijan's foremost political, economic, and trade partner within the European Union. Bilateral trade surged to $11 billion in the first eight months of 2022, illustrating robust economic engagement and mutual benefit. Over 100 Italian companies operate across diverse sectors in Azerbaijan, spanning industry, construction, trade, agriculture, communication, and services, showcasing the breadth and depth of their economic collaboration.

Integral to this partnership is Italy's strategic role in mitigating the impact of fluctuating hydrocarbon prices through joint initiatives with Azerbaijan. Azerbaijan has emerged as a crucial supplier of crude oil and natural gas to Italy via the Trans-Adriatic Pipeline (TAP), operational since December 2020. This pipeline facilitates annual gas exports of at least 20 billion cubic meters to Europe, with plans for expansion to further bolster Italy's energy security.

Additionally, Italian companies are actively participating in the reconstruction efforts of liberated regions in Azerbaijan. Notably, a key agreement signed in December 2020 between Azerbaijan's "Azerenerji" OJSC and Italy's "Ansaldo Energia" marked a milestone in mutual cooperation. Under this agreement, "Ansaldo Energia" supplied equipment for four 110 kV substations in the Aghdam, Fuzuli, Kalbajar, and Gubadli regions, contributing significantly to infrastructure development in the newly liberated territories.

Moreover, recent years have seen significant cultural and humanitarian cooperation between Baku and Rome. Before the pandemic, projects led by the Heydar Aliyev Foundation in Italy and Azerbaijani cultural events, such as film festivals, have enriched cultural exchanges between the two nations. Azerbaijan's support for restoring cultural landmarks in Rome has not only strengthened bilateral ties but also enhanced Azerbaijan's reputation in Italy.

In conclusion, Azerbaijan and Italy's multifaceted partnership encompasses energy security, economic cooperation, cultural exchange, and humanitarian initiatives. This robust relationship not only serves their bilateral interests but also contributes to regional stability and prosperity.

URL: http://www.today.az/news/business/249974.html

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