‘Turkey, Italy will boost bilateral trade to $30B in 5 years’

Italian firms see Turkey as alternative to Chinese supply chains, says head of Italian Chamber of Commerce and Industry

Bilateral trade between Turkey and Italy will exceed $20 billion this year and the two nations will increase it to above $30 billion within five years, the head of the Italian Chamber of Commerce and Industry said on Friday. According to Anadolu Agency reported.

Turkish investments in Italy are steadily increasing as Turkish companies view Italy as a gateway to the European Union, Livio Manzini said at a conference in Istanbul.

He said Italian businesses are also looking for supply chains other than China and “there are not many better alternatives than Turkey.”

Italy will receive an EU support package worth €200 billion ($225 billion), which will revive the Italian economy and boost its imports, the official added.

Massimo Gaiani, Italy’s ambassador in Ankara, hailed Turkey as a “truly positive partner.”

“Turkey is a truly positive partner. There is a real sense of trust between Italy and Turkey in politics and economics,” the envoy said.