Italy and Japan sign document to devellop reciprocal trade

Minister of Enterprise and Made in Italy Adolfo Urso and Minister of Economy, Trade, and Industry of Japan Yasutoshi Nishimura signed today in Tokyo a joint document on economic, industrial, and technological cooperation between the two countries.

The signing represents the natural continuation of the process of strengthening the political partnership between Italy and Japan, sanctioned by Prime Ministers Giorgia Meloni and Fumio Kishida last January with the elevation of bilateral relations to Strategic Partnership. Italy exported in Japan goods worth 8 billion euros in 2022, mostly pharmaceuticals, mechanics, autos, and similar, while it imported 5,3 billion euros, mostly chemicals and autos.

The understanding between the ministers is aimed at increasing industrial synergies as well as making investments in mutual areas of interest.

Cooperation between the countries will be substantiated through the promotion of collaborations between companies and startups in the fields of next-generation technologies, such as artificial intelligence, semiconductors, and quantum technologies, energy, infrastructure, and biotech.

The government agencies Istituto Commercio Estero (ICE) and Japan External Trade Organization (JETRO) will play a crucial role in consolidating industrial relations between the two countries and supplying the necessary services for enhancing reciprocal trade.

Urso: full convergence of views on future challenges

“Today’s agreement is a further step forward in the strategic partnership between our government and the Japanese government, which increasingly has a full convergence of views on the challenges of the future. On the industrial level, we will pursue a project to strengthen cooperation between our countries that I am sure will bring mutual benefits in many areas,” said Minister Urso.