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Italian Confindustria in Russia urges strategic networking

(AGI) Moscow, June 9 - Italian Prime Minister Matteo Renzi is to tell the St. Pe...

Italian Confindustria in Russia urges strategic networking
 Ernesto Ferlenghi presidente Confindustria Russia (Afp)

(AGI) Moscow, June 9 - Italian Prime Minister Matteo Renzi is to tell the St. Petersburg Forum there is a need to bring "a strong message about the need to keep a strategic bond with the Russian industry". His message to the forum, which runs from June 16 to 18, says it is also necessary for Italy to take concrete measures to keep its share of the Russian market. It should "establish a monitoring office at the Ministry of Economic Development to coordinate the actions of Italian institutions and businesses alike, supporting Italy's cultural, economic and innovation system in maintaining its competitivity". Ernesto Ferleghi, president of Confindustria Russia told AGI, that he backs the prime minister's statement. Economic and trade relations and industrial cooperation with the Russian Federation are extraordinary topics, which cannot be simply listed as market demand issues, he said. Trade between Italy and Russia in the past two years has dropped 65-68 percent, mainly due to Italy's lower hydrocarbon imports, he said. "In three years, Italian exports have dropped by more than 38 percent, also in sectors which were not under embargo, such as machinery, automotive, chemicals and oil and gas equipment. Russia has profoundly changed and in an irreversible manner. The prolonged oil price decrease, the western world sanctions and the devaluation of the currency have called for a new political and industrial strategy, focusing on localisation and avoiding export dependence especially in sectors such as mechanics, agriculture, pharmaceutical and avionics." He said Italy requires a "a new industrial exports policy, with a more aggressive marketing strategy, based on an overall vision of Russian firms' investment plans, of the existing clusters, and of development requirements". Confindustria Russia may propose to the local government they set up a monitoring office made up of ICE, the Italian Embassy, business associations, banks, Sace and the Chamber of Commerce. "We are ready to work together to highlight the mid and long-term priority projects as the ones regarding infrastructures, oil and gas, agrifood, to attract Italian excellence in localisation," he said. More aggressive European competitors, such as Germany and France, "have already stepped into areas which could be ours". (AGI). .