MILAN, Jun 28 (Class Editori) - “The process of integration between the five countries of the Eurasian Economic Union is an incontrovertible, irreversible reality in constant evolution that opens the door to economic, commercial and industrial partnerships of fundamental importance for companies that will be able to diversify their business and positioning in Eurasia, the great area of trait d'union between the West and the East, from the Atlantic to the Pacific.” These are the words of Antonio Fallico, president of Banca Intesa Russia and the association ‘Conoscere Eurasia’ pronounced at the VII Eurasian seminar in Rome. Fallico added that this is “a strategic area and a large outlet market representing 3.2% of the global GDP and involveing almost 2 billion people.”
“While in Italy and in other EU countries attention continues to be directed solely and exclusively to the subject of sanctions and counter-sanctions related to Russia, the Eurasian Economic Union is accelerating the plan of free trade agreements, from Israel to India, from Iran to Vietnam to Singapore and China.”
According to ISTAT data processed by "Conoscere Eurasia" it emerged that in the first quarter of 2019 the Italy-Eurasian Economic Union trade exceeded 6.1 billion euros, up 7.6% compared to the same period in 2018. In particular, against an increase in imports of 6% - over 3.9 billion euros - sales of made in Italy recorded +10.6%, accounting for over 2.2 billion. Meanwhile Russia continues to be the main destination of Italian products that, although down by 1.6%, reached a value of 1.7 billion, there are significant growth rates also for other Eurasian economies. Among the Eurasian economies being currently the most attractive for Italy are Kazakhstan and Belarus. From January to March 2019 Italian sales in these two countries totaled over 384 million (+140.3%) and 105 million (+12.6) respectively.
(Source:Class Editori)
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