UK and Italy to Start Dialogue on Boosting Exports, Investment
The United Kingdom and Italy are set to initiate a dialogue to create a new export and investment partnership to boost trade between the two countries, the U.K.'s Department for International Trade said Oct. 13. U.K. International Trade Secretary Anne-Marie Trevelyan and Italy's Minister of Foreign Affairs and International Cooperation Luigi Di Maio, meeting in Sorrento, Italy, made the announcement immediately following the G-20 meeting there. The dialogue will seek to increase exports in high-performing sectors such as life sciences, defense, security, digital and tech, DIT said. Inward investment, including in low-carbon industries such as onshore and offshore wind, hydrogen and carbon capture storage, will also be the target of increased attention. DIT hopes the dialogue will lead to annual ministerial talks and more forums for increased engagement between the countries' trade leaders.
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“Enhancing our bilateral relationship with Italy is a win-win, which will boost export opportunities and investment promotion for our businesses,” Trevelyan said. “Italy is our ninth-largest trading partner, while the U.K. is Italy’s fifth-largest export market -- I am delighted we are kicking off this discussion. The U.K. and Italy are also working side-by-side to deliver a successful COP26 Summit. The next 18 months are critical for our planet and together we will lead by example to accelerate progress towards a green, resilient and inclusive recovery.”