The Secretary of State for International Trade announced that the talks on the UK-Italian foreign exchange expert and investment aimed at boosting trade between the two countries.
• New supply chain investment talks to encourage UK companies abroad
• The Secretary of Foreign Trade will meet with the Minister of Foreign Affairs and International Relations after the G20 summit in Sorrento
• Italy is the eighth largest economy in the world and last year there was trade between our countries worth $ 38bn
The Secretary of State for International Trade announced the talks of a new UK-Italian foreign and diplomat who is committed to promoting trade between the two countries.
Anne-Marie Trevelyan announced this with Italian Foreign Minister Luigi Di Maio in Sorrento, on his way to Italy for the G20, his first international conference since taking office.
The debate is aimed at promoting exports to companies in the two countries including advanced sectors such as science, security, and security, as well as major future sectors such as digital. And tech.
It will promote domestic investment, including low-carbon industries such as wind and coastal, hydrogen, and carbon dioxide, and the food and beverage industry and technology – which will help explore and improve energy. Italy to support the Italian economy.
The talks will also look at opportunities to partner and share best practices between two credit institutions – the UK Export Fund and the Italian Foreign Credit Center – to help SMEs and companies that are seeing growth.
International Business Secretary Anne-Marie Trevelyan said:
Increasing our relationship with Italy is an opportunity, it will promote external opportunities and encourage investment in our businesses.
Italy is the ninth-largest trading partner, and the UK is the fifth-largest foreign exchange market – I’m glad we started this conversation.
Britain and Italy are also working together to celebrate the success of the COP26 Summit. The next 18 months are crucial to our planet and together we will be guided by examples of rapid development to a green, stable and inclusive healing.
The debate is expected to take place at the annual cabinet meetings and a new information forum between the two Governments, as well as new trade agreements and strong ties between the leaders of the UK and Italy.
Trade between the UK and Italy generated more than $ 34 billion last year. Some of Britain’s best-known products were sold in Italy last year, including 899 cars, equivalent to 10% of all British products sold in Italy – with 38 billion drugs and medicines.
British consumers have been able to buy $ 1.2 billion in Italy, and we have included eight hundred and sixty billion alcoholic beverages and more than six hundred and sixty-six million vegetables and herbs.
The meeting with Italy follows the G20 trade summit in Sorrento yesterday. Anne-Marie Trevelyan has met with partners, including India, Singapore, and Canada to discuss globalization ahead of the second WTO Ministerial Conference (MC12) next month.
The UK remains committed to combating trade barriers and will use our new independence in the WTO to advance the global agenda.