Turkey and Italy enjoy some very strong commercial and economic ties, and both countries are keen on developing them further. In 2018 exports of Turkish goods to Italy stood at 9.46 billion dollars, while Turkey’s imports from the country amounted to 10.15 billion dollars.

Livio Manzini, President of the Italian Chamber of Commerce in Turkey, emphasised the many opportunities that Turkey has been offering to investors and praised their trade balance as indicating a sustainable and deep relation. He lamented how there is still much to do in terms of mutual trust to move this relationship beyond trade and incentivize bilateral investments. Recent developments in this matter brought Turkish entrepreneurs to invest in Italy, in Manzini own words “Turkish companies continue to invest more in Italy. This again leads to a high level of relations.”

Manzini also spoke in support of a possible update to the European customs union with Turkey: “We support the modernization of the customs union agreement and its adaptation to today’s conditions. Let us note that this was an interim agreement. Turkey would set out to the full integration into the EU with this agreement. However, since this full integration was delayed, the shortcomings of the customs union agreement came to manifest themselves.”

The Coordinating Chairman of the Aegean Exporters’ Association, Jak Eskinazi noted how Italy and Turkey have many common characteristics and improving mutual cooperation in visa procedure for businessmen will benefit trade between the two countries. Valerio Giorgio, newly appointed Italian Consul in Izmir, pointed out, during his visit to the Association, how Italy and Turkey could hold joint events to export Italian SMEs model abroad to benefit both countries. In some sectors, such as the leather, paper & forestry, clothing, and olive oil industries, where the partnership is stronger Turkish business association chairs highlighted the potential for even stronger cooperation.

InvestorVisa.it, as a member of the Italian Chamber of Commerce in Turkey, is working to bring Italy and Turkey together. A web conference in Turkish to explain in depth to Turkey’s businessmen the norms regulating the new investor visa application process and its tax benefits is available for streaming here. You can also read our interview to the Italian Chamber Secretary General, Fatih Aycin, on Italy-Turkey relations and business opportunities.

Source: Daily Sabah