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Italy-Russia: Business cooperation is growing

A cooperation agreement has been signed by Russian Minister of Industry and Trade, Denis Manturov, and the President of employer’s organisation Confindustria Russia, Ernesto Ferlenghi. The agreement paves the way for the creation of a working group between the two organisations in order to identify and pursue in more concrete terms the new orientations of bilateral cooperation. The occasion was a meeting between the Italian business community in the Russian Federation and Minister Manturov, which was also attended by Italian Ambassador in Moscow, Cesare Ragaglini. The topics discussed during the meeting included the industrial policy instruments developed by Russia to encourage companies to create new forms of cooperation. “Minister Manturov’s willingness to meet a selection of Italian companies once again confirms, if proof were ever needed, the interest of the Federation in strengthening cooperation with Italy and its production system, which has always been highly active in seizing the growth opportunities offered by this country,” said the Italian ambassador.

Investments that are good for companies are also good for this Country

“Just as in all the crises that have traversed this country in the past, during the recent difficult months Italian companies have always continued to come to Russia – no company operating here has ever been reported to have withdrawn from this market – and to believe in its development potential. I am convinced that in 2016 we will see positive results in terms of new investments, participation in public and private tenders and the creation of new joint ventures. These investments are good for our businesses and are good for this country, which can but benefit from Italian technology and know-how,” the ambassador continued. “The benefits will thus be for both our economies, also because they clearly complement each other. This is partly why on March 17 I will present to a business audience in Milan ‘Investing in Russia: a Guide for Italian Businesses’, created by the Embassy and the Italian Trade Agency (ICE) with the contribution of different components of the Italian Country Promotion System, including Confindustria Russia. It is an easy-to-use and concise document, which contains all the economic and regulatory information that businesses need in order to simplify their business plans and make them more effective in a market as vast and complex as the Russian one.”

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