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Antonio Fallico: The strategic role of the Russian market is growing

February 20, 2020, Milan, Moscow. The VIII Russian-Italian business seminar was held today in Milan (Lombardy, Italy), focusing on cooperation between Russia and Italy in such fields as economy, industry and finances.

The seminar was organized by the Italian non-profit Association Conoscere Eurasia, the Roscongress Foundation, the St. Petersburg International Economic Forum and the Russian Consulate General in Milan with the support of Banca Intesa, Intesa Sanpaolo group and the legal bureau “Gianni, Origoni, Grippo, Cappelli and partners”.

Two dozen high-ranking representatives of the government bodies and businessmen from Russia and the Italian region of Lombardy addressed the audience including Attilio Fontana, President of the Lombardy region, and Sergey Razov, Russian Ambassador to Italy.

“The strategic role of the Russian market is only growing,” said Antonio Fallico, President of Banca Intesa and the Association Conoscere Eurasia at the opening of the seminar. “It is necessary to ensure that Italian companies are competitive in this market, which also plays an important role in accessing the markets of the Greater Eurasia.”

The statistics of the trade turnover between the two countries was released at the seminar. According to the Italian statistical office ISTAT, in 2019, exports from Italy to Russia reached 7.3 billion euros, an increase of 4.9%, and imports from Russia amounted to 13.3 billion euros, a decrease of 2%. Lombardy remained Russia's largest trading partner among Italian regions. In absolute terms, exports from there amounted to 1.6 billion euros in the three quarters of 2019, a decrease of 50 million euros compared to the same period in 2018, and imports to 1.7 billion euros (+282 million euros).

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