Italy’s senior official in charge of international trade and Italy cooperation with China and benefit many countries by strengthening the cooperation.
Michele Geraci, Deputy Minister of Economic Development of Italy, said that the memorandum of understanding on cooperation in third countries signed by the two countries in September is very important because it helps to establish how Italian and Chinese companies are in Africa and other regions.
Economist Grange said in an e-mail interview that Italy can work with China to improve the African economy because the two countries have complementary skills.
“We are choosing a specific joint venture between Italian and Chinese companies,” he said. “I believe this is a win-win solution for all concerned parties, including the African people, because a large number of outbound migrant flows may exhaust the intellectual capital of the African continent, if not impossible, it will be difficult to reverse “”
Geraci said that the partnership between China and Italy is “a good example of China’s proposed Belt and Road Initiative” and added that the two countries are also looking forward to cooperation in the port.
“We are analyzing how to use the Italian port as the western terminal of the new Silk Road for International Freight. Our northern port is located in central Europe, our southern port…is vital for the development of the Mediterranean and African economies,” he Say.
Gerachi said that he hopes that the bilateral relationship between the two countries will be strengthened next year.
China is Italy’s largest trading partner in Asia. In 2017, the bilateral trade volume reached US$49.6 billion, a year-on-year increase of 15.1%.
Geraci said that agricultural machinery and food are two areas that he believes have the greatest potential for trade cooperation between the two countries. Other traditional industries such as fashion and heavy machinery will continue to play an important role in Italy’s exports to China.
He said that as a member of the European Union, Italy adheres to the multilateral international trading system. Geraci stressed the need to reform the World Trade Organization to increase its efficiency.
“The main problem facing the world today is that the West regards China as a world economic power. If we look at the overall data of GDP, this is the case. However, as an important key player in the world economy, China’s per capita income is very low. People,” he said.
He added that the West and China need to fully understand each other’s domestic and international roles to avoid misunderstandings about the past. “We really want to ensure that the international trading system works smoothly, and that rules ensure fair competition, taking into account the different stages of social and economic development in each country and the challenges.”
Geraci said it is difficult to balance short-term tactical measures with long-term growth. He called for dialogue between different countries to increase mutual understanding.
Gerachi said he believes that high-level government exchanges in bilateral relations are very important and added that his country hopes that such intergovernmental interaction will benefit the business communities of both countries.
“Ultimately, we judge the economic performance of our people in the Italian government and are the companies that operate the economy,” he added.
He also stressed the importance of non-governmental exchanges and expressed the hope that more Italian students will come to China. He said that this will help enhance mutual understanding between the two peoples and become China’s best ambassador for social and economic success worldwide.
News Source: China Daily
