Today, the Italian Undersecretary of State for Foreign Affairs and International Cooperation Maria Tripodi participated in the informal ministerial meeting on trade held in Valencia, under the Spanish Presidency. On the agenda were the issues of economic security, free trade negotiations between the EU and India, as well as an overview of the trade agreements technically concluded by the European Union and awaiting approval.
On the first topic, Undersecretary Tripodi pointed out that, when it comes to Italy, economic security means promoting the diversification of supplies and exports, reducing dependencies to decrease risks, ensuring the “Level Playing Field” and counteracting economic coercion.
Turning to the negotiations with India, Tripodi instead pointed out that Delhi remains an important partner for the EU and Italy, especially in the current geopolitical context. Despite the recent acceleration at the negotiation level, the conclusion of the three agreements under negotiation (Free Trade, Investment Protection and Geographical Indications) still requires greater commitment and flexibility on both sides. Therefore, assuming the closure of the agreement by the end of 2023 currently seems perhaps too ambitious an objective.
Finally, with regard to the trade agreements technically already concluded or under negotiation, the Undersecretary expressed Italy’s traditional position in favour of expanding the EU’s network of agreements, in line with the international projection of our production system. Indeed, one third of the national GDP comes from our exports. The diversification of supply chains and export markets, particularly in Latin America (with Chile, Mexico and Mercosur), therefore appears to be a priority.
