BAKU, Azerbaijan, September 25. Concrete plans
are being developed to locate manufacturing facilities of Italian
companies in Azerbaijan's free economic zones, Maurizio Tamagnini,
Founder and CEO of Fondo Strategico Italiano (FSI), said Friday at
the second Azerbaijan International Investment Forum in Baku,
Trend's correspondent
reports from the event.


According to him, FSI, together with the Azerbaijan Export and
Investment Promotion Agency (AZPROMO) and the State Oil Fund of
Azerbaijan (SOFAZ), is working to expand cooperation between Italy,
Azerbaijan and Central Asia.


Tamagnini noted that a major Italian delegation visited
Azerbaijan in February, including representatives of companies with
a combined market capitalization of more than $100 billion.
According to him, these companies employ nearly 300,000 people.


"If we can really connect two regions, such as continental
Europe and Italy, with Azerbaijan and Central Asia, and Italian
technology companies follow the major companies that are already
operating here, this will be a modern way of partnership," he
said.


He noted that Italian companies such as Eni, Leonardo and
Tecnimont are already operating in Azerbaijan.


Tamagnini also spoke about the development of working contacts
between Italy and Azerbaijan.







"There are working groups traveling from Milan and Rome to Baku,
as well as visits in the opposite direction. There are very active
exchanges between the people of the two countries. There are also
programs aimed at student exchanges and training future leaders,
including through scholarships for studying in the two regions. The
sides are beginning to develop concrete plans to locate
manufacturing facilities of Italian companies in Azerbaijan's free
economic zones," he said.


As an example, he cited pharmaceutical company Kedrion, which
specializes in plasma-derived medicines.


"If we can establish the entire regional cycle here, from
research to production, so that products are no longer supplied
from outside and there are not just commercial offices here, I
think this would be an excellent example that could then be
replicated with other companies," he said.


Speaking about FSI's cooperation with SOFAZ, Tamagnini noted
that the fund has been a long-standing partner of the
organization.


According to him, Italy has traditionally also offered
Azerbaijan opportunities to invest in the Italian economy as part
of this cooperation, but the sides are now seeking to move toward a
broader partnership format.