(Adnkronos) – Italy and “priority” export country Canada have agreed to extend their already flourishing trade relations, especially in the defence technologies, electric vehicles and batteries, infrastructure, aerospace, critical raw materials and renewables sectors, according to a foreign ministry statement.
At talks in Rome between Italy’s foreign minister Antonio Tajani and Canadian counterpart Maninder Sidhu on Monday, the two ministers “confirmed the excellent state of economic relations between Rome and Ottawa,” said the statement.
“Canada is a priority country in our Export Plan, with bilateral trade topping nine billion euros in 2024 (up 12% from the previous year),” the statement said.
Also in view of US president Donald Trump’ tariffs, Tajani and Sidhu mulled the importance of diversifying exports into new market with Tajani signalling “the new prospects that may open up with the EU-Mercosur Agreement and with India,” said the statement.
In view of these scenarios, Tajani and Sidhu “agreed to further expand trade relations, with a focus on exports in the defence technology, automotive (electric vehicles and batteries), infrastructure, aerospace, critical raw materials and renewable energy sectors, the statement continued.
The official launch of the Italy-Canada energy dialogue is scheduled to take place on the sidelines of the G7 Energy meeting in Toronto on 30 and 31 October, the statement recalled.
“Tajani thanked his colleague for the important work that Ottawa is promoting in the trade sector in the context of Canada’s G7 presidency,” the statement concluded.
Sidhu is in Italy through Friday at the helm of his first trade mission to Europe. The mission includes some 80 Canadian small, medium and large-sized companies, including exporters from diverse backgrounds, and is holding meetings in Rome and Milan.
