A delegation led by Israfil Mammadov, CEO of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), had a working visit to Italy aimed at exploring new investment opportunities and reinforcing the strong partnership between Azerbaijan and Italy.

During the visit, Israfil Mammadov met with senior Italian officials, including Edmondo Cirielli, Deputy Minister of Foreign Affairs; Adolfo Urso, Minister of Made in Italy; and Marcello Sala, Director General at the Ministry of Economy and Treasury. The meetings focused on enhancing economic cooperation and deepening investment activities between the two nations.

SOFAZ, which holds an investment portfolio of USD 2.3 billion in Italy, also engaged with leaders from prominent Italian infrastructure firms and investors across the digital, transport, and energy sectors. Key meetings included discussions with Luigi Ferraris, CEO of FiberCop; Pietro Labriola, CEO of TIM; Orlando Barucci and Prof. Fabrizio Pagani, Chairman and Partner of Vitale & CO; Stefano Venier and Luca Passa, CEO and CFO of SNAM; Paolo Ciocca, Chairman of Open Fiber and Giovanni Gorno Tempini, Chairman of CDP.

The discussions highlighted current economic ties, the promotion of mutual investments, and areas for further collaboration. Both sides underscored the importance of expanding partnerships across various sectors to foster sustainable development and drive joint investments with social, environmental, and economic impact.