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Russian-Italian trade growing at record pace

November 26, 2013, 21:20 UTC+3 TRIESTE
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TRIESTE, November 26./ITAR-TASS/. Trade turnover between Russia and Italy is growing at a record-breaking pace and might reach 50 billion U.S. dollar in 2013, Russian President Vladimir Putin told a news conference on Tuesday after the Russian-Italian interstate consultations.

“Italy ranks fourth among Russia’s biggest trade partners,” he said. “Bilateral trade is growing at a record-breaking pace (24 percent). We hope to exceed a threshold of 50 billion U.S. dollars in 2013. These figures mean jobs.”

The two countries are developing investment cooperation. “Russian investments in Italy have increased four-fold in the past four years to reach 500 million U.S. dollars. Italian investments in Russia amount to one billion U.S. dollars. The memorandum between the Russian Direct Investment Fund and Italy’s Strategic Fund signed during the visit opens new possibilities for increasing mutual capital flows. The memorandum provides for mutual investments of 1.4 billion U.S. dollars,” Putin noted.

Russia and its Italian partners see it as their goal to unfold large-scale industrial cooperation.

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