The Director-General of Italian Trade Agency (ICE-ITA), Lorenzo Galanti, stated last Wednesday (9) that Brazil is an important market in Latin America, but highlighted that it is possible to “do more” to expand bilateral trade with Italy, which totaled 10 billion euros (R$ 61 billion) in 2023.
“It is a remarkable figure, but not on par with two countries like Brazil and Italy, which, in terms of nominal GDP, have similar sizes.
We can do more”, declared the executive during the Italy-Brazil Forum, organized by ICE and the Federation of Industries of the State of São Paulo (Fiesp) and which was attended by the Italian Minister of Foreign Affairs, Antonio Tajani, and the Brazilian Chief of Staff, Rui Costa.
“But we already see signs of recovery in the first seven months of 2024, when Italian exports to Brazil grew by 10,1%,” said Galanti.
The result was driven mainly by the machinery sector, but also by agri-food products. “We are also very active in wines, with increasing satisfaction,” he highlighted. On the other hand, Brazilian exports to Italy remained “relatively stable” during the period.
“ICE wants to reinforce its support actions for small and medium-sized Italian companies in this market because we see great opportunities, which could increase in the perspective of an agreement between the European Union and Mercosur”, declared the director of the Italian Trade Agency.
This effort, according to him, encompasses all of Latin America, which imports 20 billion euros (R$122 billion) in Italian products per year, a figure “which is also not up to its potential”. (HANDLE)
