Further opening-up will benefit Italy
Since the beginning of my mandate in Beijing, back in 2015, the political and economic ties between Italy and China have experienced a new momentum of growth. In 2017, in particular, the relations between Italy and China reached a turning point. President of the Italian Republic Sergio Mattarella paid in February a state visit to the People’s Republic of China. Italian Prime Minister Paolo Gentiloni attended the Belt and Road Forum for International Cooperation which took place in Beijing last May. We welcomed one delegation at the ministerial level from Italy every two months.
At the end of 2017, Vice-Premier Ma Kai paid an official visit to Italy. On every occasion, the two countries confirmed the willingness to further promote their bilateral strategic partnership, including in the framework of the Belt and Road Initiative. Every time, important bilateral agreements were signed in areas such as healthcare, science and technology, space exploration and food safety. Joint patrols were conducted by Italian and Chinese police agents at the main tourist spots in several towns of the two countries: a visible sign of friendship and mutual trust.
In 2020, we will celebrate the 50th anniversary of our diplomatic relations, which is also the year when the 13th Five-year Plan (201620) is set for completion. The “Road to 50” sets the path for our bilateral cooperation aiming at upgrading the strategic partnership with more in-depth cooperation in key sectors where our two systems can complement each other and Italy’s industrial capacity can meet the strategic priorities defined by the Chinese authorities.
The economic relations between Italy and China are extremely sound and constantly improving. The two countries share a global strategic partnership, reaffirmed last May with the signing by Italian Prime Minister Paolo Gentiloni and Chinese Premier Li Keqiang of the new bilateral Plan of Action 2017-20. This plan focuses, in the economic field, on an enhanced collaboration in a number of sectors identified as a priority by the Chinese government in the 13th FiveYear Plan. Among these sectors, I can mention the environment and green energies, agriculture, sustainable urbanization, healthcare, aviation and aerospace, infrastructure and transportation.
Moreover, Italy and China are strongly committed to further advancing their cooperation in the field of technological innovation, building up synergies between the respective industrial strategies, “Made in China 2025” and “Industry 4.0”. Other important dimensions of our relationship are represented by culture and creative industries, which present an enormous potential for joint activities and tourism, which in turn can benefit from the launch of the EU-China Year of Tourism.
With regard to trade and exports, 2017 stands out as an exceptional year of bilateral commercial interchange. According to Chinese data processed by the Italian Trade Agency, the overall trade balance grew by 14.6 percent, nearly reaching the threshold of $50 billion. Italian exports to China went up by almost 22 percent, with record sales of motor vehicles, furniture, machinery, leather goods and food and beverages. On the other hand, our imports from China grew by 10 percent, with machinery, plastic and chemicals, vehicles and toys registering the best performances. These data show the great interdependence existing between our economies and the great potential for further integration. Italy can provide China with a wide variety of high quality goods and both countries can benefit from an enhanced exchange of innovative technologies.
This is even more true in light of this year that marks the 40th anniversary of China’s reform and opening-up. Italy welcomes the efforts made so far and is looking forward to the adoption of further steps to open up the Chinese productive and financial markets. It has been an effective, long process, to be fostered further. As highlighted at the World Economic Forum in Davos, Switzerland, last year, going global is a necessity for China and for other economies as well, especially economies such as Italy which are strictly connected. We understand from the words of President Xi Jinping that there is a strong commitment to the objective of creating a more enabling environment for foreign investors to access the Chinese market.
As reforms are underway, Italy is following very closely the progress made by China’s economy in transitioning from a phase of rapid growth to a stage of high-quality development, with a modernized economy being a strategic goal. I am convinced that more opportunities for both domestic and foreign companies will arise from China’s program to deepen supply-side structural reform, promote high-level liberalization, facilitate trade and investment, and significantly ease market access. Italy, with a long experience and innovative entrepreneurial capacity, is well equipped to cash in on the paramount bilateral opportunities.
I am confident that our economic and cultural kinship will continue to flourish, having a strong pull on our long-lasting, sound friendship: Italy and China are two countries with a remarkably strong cultural identity, rooted in thousands of years of history, and an incredible asset: their people.