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Foreign Ministry Note – 14th session of the Joint Italy/China Economic Committee

Today the Minister of Foreign Affairs and International Cooperation, Luigi Di Maio, and the Minister of Commerce of the People’s Republic of China, Wang Wentao, have co-chaired by video conference the 14th session of the Joint Italy/China Economic Committee.

Minister Di Maio has expressed satisfaction for the positive trend of bilateral trade and Italian exports to China, which are up in the first half of this year by 20.3% and by 48.3% year-over-year (+2.6 billion Euros from January to June 2021, compared to the same period last year). An even higher percentage growth has been recorded for exports in the agri-food sector, up by 50% from January to July and totaling 415 million Euros, based on which figures Italy now ranks third among the top suppliers of wine to the Chinese market this year.

In view of further supporting Italian exports, the Foreign Minister has announced the opening of a new ICE agency office in Chengdu and, together with Minister Wang, has launched ad hoc working groups for agri-food products and the promotion of e-commerce. These measures will contribute to achieving the goal, mentioned by Minister Di Maio, of ensuring an increasingly balanced flow of goods and services between the two countries, thereby contributing to rebalance the trade balance.

Minister Di Maio has also highlighted the importance of resuming direct flights between the two countries, an essential move towards revitalising the economy and tourism. The Foreign Minister has also emphasised the establishment of “green corridors” to facilitate the participation of foreign economic operators in trade fairs in Italy.

Finally, the two Ministers have discussed the issue of protecting intellectual property and the importance of ensuring the full implementation of the EU-China Agreement on Geographical Indications.

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