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Second session, in virtual format, of the Italy-Turkey Joint Economic and Trade Commission (JETCO) meeting

The Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, chaired, with the Turkish Minister of Trade, Ruhsar Pekcan, the second session, in virtual format, of the Italy-Turkey Joint Economic and Trade Commission (JETCO) meeting.

During restricted talks with Minister Pekcan, prior to the public session, Minister Di Maio stressed the importance of the work of the Joint Economic Commission.

The meeting is an opportunity to strengthen the traditional good economic and trade relations with an important partner like Turkey and to protect the interests of Italian companies operating there, in a spirit of constructive dialogue with Ankara.

The Foreign Minister then observed that, in order to fully exploit the potential of the economic partnership with Turkey, it is necessary to focus on strengthening industrial and economic-trade synergies, particularly in the transport and energy infrastructure sector; on increasing the flow of bilateral investments; on improving access to the Turkish market for Italian goods and on promoting future collaborations on third markets. The achievement of these objectives requires the effective and complete implementation of the EU-Turkey Customs Union, a fundamental requirement in order to proceed to its future modernisation and which, however, must be discussed within the EU.  The development of the EU-Turkey economic partnership will also benefit from a more constructive political approach.

The virtual meeting of the 2nd session of JETCO also provided an institutional framework for signing two important commercial agreements: a Memorandum of Understanding between the ICE Agency and its Turkish counterpart DEIK, to strengthen cooperation between the two agencies, and a Memorandum of Understanding between SACE and Ronesans, a multinational company with its principal headquarters in Turkey and a major European construction and infrastructure contractor, with the aim of expanding business opportunities and strengthening bilateral commercial cooperation.