Italy explores investments potential in UAE just ahead of Expo Milano 2015

YarnsandFibers News Bureau 2015-04-29 15:00:00 – Milan

The Italian government appointed a trade mission to Dubai to explore investment and tourism potential between the two countries as it is a perfect time to attract investors to Italy during the Expo Milano 2015. .

According to Giovanni Favilli, Consul General of Italy in Dubai said that Italy is very good as an export market. They export the three FFFs — food, fashion and Ferrari — to the whole world, and the currency depreciation makes exports cheaper, and in turn increases profit margin.

The overall weak economic situation and the euro’s depreciation increases business potential and competitiveness for Italian firms said Giovanni Favilli during a presentation of Italian commerce and trade mission to the UAE.

Promoting business opportunities across Italy, the mission focused its presentation on Calabria, an Italian region situated in the south of the country, for its natural and cultural heritage values, Favilli said. He added that through this mission, Italian government is looking to attract different businesses from the UAE worth billions of euros, across sectors.

Justifying the mission to the UAE, Silvia Tropea, Project consultant, said that there has been an significant increase in Italian exports to the emirate, especially in sectors including machineries, equipment and tools, jewellery, metal and metal products. Compared to 2011, performance of computer and electronics exports in 2014 registered the highest growth at 41,3 per cent followed by food at 39.5 per cent.

In general, since 2010 Italian exports have been steadily rising. In 2014, it reached €398 billion, up two per cent from the previous year, boosted by increase in sales to the European Union (by 3.7 per cent) and the United States (10.2 per cent).

Italy’s exports mostly comprise machinery and equipment (18.3 per cent of total exports); metals and metal products (11.7 per cent); textiles and clothing (11.5 per cent); transport (9.5 per cent); and food and beverages.

In 2014, Italy’s main export partners were Germany (12.4 per cent), France (11 per cent), the United States (7 per cent), Switzerland (5.2 per cent) and the United Kingdom (5 per cent).

Tropea said that the main aim of the mission is to encourage the opportunities of investment in Calabria and across different sectors — to promote the image and the quality of the so called “Made in Calabria” to the emirate’s consumers ... as well as to enhance the trade, commercial and industrial relations between the UAE and Italy across several business sectors.

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