Russia is increasingly focusing on Made in Italy and strengthening its economic and commercial ties with Italy. The exchange between the two countries has strongly consolidated and mutual investments, during the pandemic, have shown great resilience. At the same time, the love of the Russians for our country, for our language, our culture and gastronomy has never gone unnoticed. There are many tourists who visit Italy every year and also many students who come here to study Italian art and music.
Despite the political difficulties of recent years and the pandemic crisis, no Italian company has left Russia. The solidity of the relationship with Italy is above all due to the complementarity of the two economic systems: Russia is rich in raw materials and Italy is the second European manufacturing power. This makes our country one of the main trading partners of the Russian Federation. In 2019, trade exceeded 22 billion euros and Italian exports amounted to over €9 billion. Being the country’s fifth supplier, with a market share of 4.4%, Italy could exploit many opportunities, thanks also to the attempts by the Russian government to diversify the economy and its decision to choose an import substitution policy to reduce dependence on raw materials.
For Italian companies, therefore, investing in Russia could be an excellent choice, since the high technological know-how of Italian companies makes them particularly attractive for Russian producers. We should focus not only on Made in Italy, but also, and above all, on Made with Italy, creating joint-ventures with local partners: during the last three years, Italian companies have obtained orders for over €6 billion. Thanks also to special economic zones, special investment contracts, industrial technology parks and various measures to stimulate the economy, Russia is a promising destination for Italian investors.
An important event to strengthen bilateral relations between the two countries will certainly be the INNOPROM fair, on industrial innovation, which will be held from 6 to 8 July and of which Italy will be a partner country (it is the first time for a European country). Over 50 companies and about 20 Italian start-ups, supported by ITA – Italian Trade Agency and the Embassy of Italy, will participate in the event.
