Latin America is a sub-continent rich in opportunities for Italy and the European Union from the perspective \u2013 through collaboration following the small and medium-sized enterprise model \u2013 of innovation and smart cities. The point was underscored by Foreign Minister Giulio Terzi at the seminar on \u201cThe Latin America-EU Strategic Partnership and the Challenges of Globalisation: SMEs as a common driver of growth\u201d taking place in Milan. The seminar was organised by Lombardy Region with support from the MFA and the EU-LAC Foundation. <\/P>
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Terzi reminded participants that \u201cin 2020 a new, parallel G7 will overtake the GDP of the seven original most industrialised countries. And two of the main emerging countries, Brazil and Mexico, are in Latin America. [\u2026] Smaller countries in the region are also enjoying high growth rates\u201d, he added. \u201cAn Association Agreement between the European Union and Mercosur could open up new prospects for growth and create the world\u2019s biggest free trade area, with over 750 million consumers\u201d, continued Terzi. He underscored that \u201cto tackle and win this challenge, the European Union must necessarily look to Italy. [\u2026] Our country is a natural partner for the region, with our historic traditions, migration flows, shared values, and cultural affinities\u201d.<\/P>
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Italian investment in Latin America is flourishing<\/STRONG><\/P> \u201cItalian investment in Latin America has risen in the last ten years from 3% to 16% of total European investment\u201d, continued Terzi. \u201cItaly\u2019s biggest groups are present in the energy, including renewables, and new technology sectors. Ample margins for improvement exist for small and medium-sized enterprises, which can a part in diversifying economies that still too dependent on the exploitation of natural resources\u201d. <\/P> \u201cThe institutions\u201d, added the Minister, \u201ccan encourage joint ventures between European and South American companies both through scouting for opportunities and ensuring that contracts and investments are protected. [\u2026] The goal of this seminar is to arrive at a proposal for the business summit taking place in Santiago in the run-up to the first EU-CELAC Summit of Heads of State and Government. That proposal will focus on economic collaboration between the two regions following a model based on SMEs, innovation and the development of smart cities\u201d. <\/P>
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