(10 Apr) SACE, a group specializing in supporting the competitiveness of Italian companies abroad, will take part in the mission promoted by the Ministry of Economic Development in Azerbaijan, to be held on 14-15 April. SACE’s President of Sace, Giovanni Castellaneta, will follow the delegation led by Minister Federica Guidi. The objective of the mission is to promote the presence of Italian companies in a strategic market such as the Caucasian. “Italy – a statement from SACE says – is the first trading partner of the Country, since it absorbs about 20% of Azeri exports. Azerbaijan is among the largest suppliers of oil in Italy. The trade between the two countries is heavily influenced by the weight of imports of hydrocarbons, which constitute over 90% of the 5.4 billion euro of imports from Azerbaijan in 2014. Italian exports to the Country were instead equal to about 595 million euro, consisting mainly of mechanical engineering, furniture and fashion.” “The entry into force, in 2012, of the Convention against double taxation – Sace stresses out- is a further step towards the consolidation of trade relations between the two countries. Capital flows from Italy to Azerbaijan are very limited.” (Red)
