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Antonio Fallico: Southern Italy does not employ its full potential to develop trade and economic ties with Russia

March 23, 2018, Naples, Moscow. The IVth Russian-Italian seminar dedicated to the bilateral economic cooperation was held today in Naples (Campania, Italy). Cooperation on trade, economic relations, agriculture and tourism were discussed.

The seminar was organized by the Association Conoscere Eurasia, the  Roscongress Foundation and the St. Petersburg International Economic Forum, with the support of Banca Intesa, Intesa Sanpaolo group and Banco di Napoli.

Nearly three dozen speakers addressed the businessmen from Campania region and Russia including the Ambassador of Italy to Russia Pasquale Terraciano, and the Ambassador of Russia to Italy Sergey Razov.

"Campania region can strengthen access to foreign markets thanks to Russia. According to the Conoscere Eurasia Association’s data there is a large, but not fully employed potential of the best performing companies in the region and in   Southern Italy as a whole. The agro-industrial complex and tourism are the key industries in that perspective. The first needs to diversify its strategy in order to make it more responsive to the Russian requirements, focusing on partnerships and joint production in Russia, enforcing the "Made with Italy" production model. As for the tourism industry, it needs to improve services and update the infrastructure", - said at the seminar’s opening statement the Chairman of the Board of Directors of Banca Intesa, President of the Association Conoscere Eurasia Antonio Fallico.

The trade turnover between Russia and Campania region reflects a general trend towards its renewed growth. Thus, the volume of Italian exports from the Campania region to Russia increased by 16.7% in 2017, compared to 2016, exceeding 83 million euros. The biggest breakthrough was made by the supply of machinery and equipment (+76.6%), although in absolute figures they are small – 7.8 million euros.

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