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Antonio Fallico: Eurasia holds a key position in the relations between the West and the East

15 June 2018, Rome, Moscow. The 6th Eurasian seminar on Italy's relations with the member States of the Eurasian Economic Union (EAEU) was held today in Rome, focusing on the prospects for their development, and, in a broader sense, on economic relations in the region from the Atlantic to the Pacific. The representatives of the new Italian government coalition attended the event. 

The participants were addressed by the Italian Deputy Minister of economy Laura Castelli, the MP Matteo Luigi Bianchi, the Ambassador of Armenia to Italy Victoria Baghdasaryan, the Ambassador of Belarus to Italy Alexander Guryanov, the Ambassador of Russia to Italy Sergey Razov and other high-ranking officials and entrepreneurs from a number of countries.

«Italian companies are strengthening their presence not only in Russia, where the pragmatic attitude of business is facing difficulties generated by geopolitics, but also in the markets of other countries that are members of the Eurasian Economic Union,» the Chairman of the Board of Directors of Banca Intesa and the President of the Association «Conoscere Eurasia» Antonio Fallico said at the opening of the seminar. «In the global geopolitical arena Eurasia holds a key position in relations between the West and the East, that was confirmed by the recent agreements the EAEU has concluded with China and Iran. Italy should also play its own role in these processes defining the discussion in the European Union on the removal of sanctions against Russia».

For the first time two separate sessions were dedicated to relations with distinct countries of the Eurasian region – Belarus and Uzbekistan, which is not part of the EAEU.

At the seminar it was noted that in the first quarter of 2018, the trade turnover between Italy and the five countries of the EAEU exceeded 5.7 billion euros, a growth of 1.4% compared to the same period last year. The main items of Italian exports were machinery and equipment, textile and chemical products. Italy imported, first of all, minerals, metals and oil products.

As for Uzbekistan, the Italian business shows a growing interest toward this country. However, the volume of bilateral trade still remains modest, at the level of 200 million euros but has a great potential for growth.

The seminar was organized by the Association «Conoscere Eurasia», the Roscongress Foundation, the St. Petersburg International Economic Forum and the Belarusian Chamber of Commerce and Industry, with the support of Banca Intesa, Intesa Sanpaolo group and the Law firm «Gianni, Origoni, Grippo, Cappelli and partners».

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