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Antonio Fallico: there is untapped potential for expanding trade in the Trentino Alto Adige region with Russia

19 September 2018, Bolzano, Moscow. Today, the 4th Russian-Italian business Seminar dedicated to the prospects of development of the cooperation between the two countries was held in Bolzano (Trentino-Alto Adige region). It discussed the possibilities of cooperation in the trade and economy, in particular, in the innovative development of cities (“smart city”) and urban infrastructure.

The seminar was organized by the Italian non-profit Association Conoscere Eurasia and the Foundation Roscongress, the St. Petersburg International Economic Forum, the IDM Südtirol Alto Adige, the Chamber of Commerce of Bolzano and the Autonomous province of Bolzano, with the support of Banca Intesa and Intesa Sanpaolo Group.

The seminar was attended by the President of the Autonomous province of Bolzano, Arno Kompatcher, the Vice-President of the Autonomous province of Trento, Assessor for economic development and labor, Alessandro Olivi, the Deputy Head of the Administration of the Lipetsk region, Alexander Nikonov, the Russian Ambassador to Italy, Sergey Razov. The event was also attended by representatives of Italian and Russian business. 

Participants noted the growth of trade between companies from this part of the North-East Italy and Russia. Thus, the growth of exports to Russia in the first half of 2018 amounted to 3.1%. At the same time, the global volume of bilateral trade decreased by 4.6% during this period.

"Export of the two Autonomous provinces of Bolzano and Trento to Russia has a share of only 3.2% of overall exports from these North-Eastern Italian regions which almost reached 1.5 billion euros for the first half of the year, said the President of Banca Intesa, President of the Association Conoscere Eurasia Antonio Fallico at the opening the seminar. These figures remain modest, but show the potential for growth of trade between Trentino – Alto Adige and Russia, especially in strategic sectors for the Eurasian market. Among them are innovative solutions related to the creation of "smart cities" – from the digitalization of urban services to the growth of energy efficiency. The provinces of Trento and Bolzano are leaders in these areas in Italy and are therefore particularly interesting for the Eurasian market, which is undergoing significant changes and restructuring of production."

On the sidelines of the seminar, Italian entrepreneurs held business talks with colleagues from the Altai territory, Kaliningrad, Lipetsk, and Moscow regions.



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