The Hindu Business Line : Italy exploring trade opportunities in Kerala

Italy, India's fourth largest trade partner in Europe, is looking at Kerala as a favourite trade destination and exploring options to woo trade partners in many sectors such as food processing, infrastructure, high-end consumer products and tourism.

The Italian Ambassador to India, Mr Antoni Armellini, said this to a group of industrialists from the State during an interactive meet arranged by FICCI State Council in Kochi.

The Ambassador, who was on short visit to the State, told industrialists that time had come for a quantum leap in the bilateral trade between India and Italy. He pointed out to the group of industrialists, led by Mr M.G. George Muthoot, Chairman of FICCI State Council, that Italy could help the State in developing world-class infrastructure and attract more investment in food-processing sectors, as his country has a substantial strength, expertise and knowhow in these sectors.

"I would like to specify that tourism is a major area, where both regions can associate for better yields. Kerala is now becoming a favourite destination for Italian tourists. We are here to understand and explore trade opportunities with the State," he said.

Italy, he said, is focussing on taking bilateral trade relations to the next level. According to him, India and China are priority areas in Asia for Italy.

A 400-plus trade delegation led by the Italian Prime Minister will visit India in February next year. Italy is giving a special concentration on India and planning to declare 2007 as the `Year of Italy in India'. The country expects to double its trade with India in the next five years, he said.

The balance of trade is currently tilted in favour of India even though both imports from Italy and Indian exports are growing substantially. Indian exports to Italy touched $2.16 billion in 2004-05, 25 per cent up from $1.73 billion. Italy has plans to take the total trade between the two countries to $10 billion.

Mr Muthoot said on the occasion that FICCI State Council has been trying to place the State on the top of the industrial map of India. He offered all help for the industrialists here to explore new global trade opportunity. Allaying fears over investment climate in the State, the industrialists from the State convinced the Italian Ambassador that there has been a tremendous change in the mindset of Kerala and labour relations are improving substantially.

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