UK, Italy announce new dialogue to boost exports, investment

The dialogue is intended to boost exports for companies in both countries including in high-performing sectors like life sciences, defence and security, as well as growth sectors of the future such as digital and technology, according to a press release from the British government.

It will also promote inward investment, including in low-carbon industries such as onshore and offshore wind, hydrogen, and carbon capture storage, plus the technology sector, where UK research and development strengths can help support Italian scale-ups.

The talks will also seek opportunities for greater collaboration and sharing of best practice between the two countries’ export credit organisations—UK Export Finance and the Italian Export Credit Agency—helping small and medium enterprises and companies looking to grow.

“Enhancing our bilateral relationship with Italy is a win-win, which will boost export opportunities and investment promotion for our businesses. Italy is our ninth-largest trading partner, while the UK is Italy’s fifth-largest export market, Trevelyan said.

Both countries are also working side-by-side to deliver a successful COP26 Summit. Trade between both sides was worth more than £34 billion last year.

Fibre2Fashion News Desk (DS)