The Undersecretary of State for Foreign Affairs and International Cooperation, Giorgio Silli, attended in Washington the 36th Plenary Assembly of the Business Council for Latin America (CEAL). Representing Italy, Guglielmo Picchi, Chairman of SACE, also took part in the meeting.
In his remarks, Undersecretary Silli emphasised the importance of the entire region, both for the depth of its historical ties with Italy and for the growing opportunities for collaboration with our country. He recalled that the Italian and Latin American economies are complementary, including in strategic sectors, as demonstrated by strong trade and investment relations. In 2024 alone, bilateral trade between Italy and Latin America increased by 6.6%, reaching EUR 33.4 billion, with Italian exports amounting to almost EUR 21 billion (+6.7%). This uninterrupted growth since 2021 was confirmed also in the first eight months of 2025, with trade already approaching EUR 23 billion.
“Today, more than 3,800 Italian companies, including major industrial groups, operate throughout the region in key sectors such as infrastructure, energy, telecommunications and advanced manufacturing,” Silli noted. “These centres of excellence embody long-term vision and mutual trust,” he added, pointing out that Italian direct investments in the region amount to approximately EUR 41 billion. “While these figures are encouraging, the growth prospects are even more so. The Ministry of Foreign Affairs and International Cooperation is determined to lead the entire Italian economic system in further strengthening cooperation at all levels — as demonstrated, for example, by the success of the latest Italy–Latin America and Caribbean Conference and by the inclusion of the region in the Action Plan for Italian Exports, a new growth diplomacy strategy strongly promoted by Minister Tajani,” he concluded.
On the margins of the Assembly, Undersecretary Silli also held brief meetings with US Deputy Secretary of State Christopher Landau and Ecuadorian President Daniel Noboa, before further discussing Italy’s engagement in Latin America with US Deputy Assistant Secretary of State for South America Cartwright Weiland and OAS Secretary General Albert Ramdin. During his stay, Undersecretary Silli also met with representatives of Italian companies operating across the Americas.
