Italian and Irish business leaders have established a new Italian Irish Chamber of Commerce which has been officially launched by foreign affairs minister Simon Coveney.
The founding members include Italian shipping company d’Amico Società di Navigazione, Intesa SanPaolo Bank; Vision Creative Studios, a design centre for commercial, residential and hospitality interiors; Bulgari, the jewellery brand; investment house Mediolanum; and Italian Desk Ireland, which provides legal and tax advice to Italian commercial concerns in Ireland
Other members are Kelmer Group, business consultants and tax advisors, and FAAC Group, which provides hi-tech transport and parking solutions.
The president of the new body is Furio Pietribiasi, chief executive of Mediolanum International Funds. Speaking at the launch meeting, Pietribiasi said: “Having worked in Ireland for 22 years, and with strong ties to the Italian-Irish community, I can personally attest to the rapid inward growth from Italy to Ireland.
“The launch of the IICC is an important milestone in the future of Irish-Italian commercial and economic relations. We are confident that the activities of the chamber will strengthen the economic ties between Italy and Ireland and help businesses to pursue further commercial and investment opportunities.”
In Association with
Minister Coveney added: “Over the last five years trade between Ireland and Italy has increased and the role of organisations like the Italian Irish Chamber of Commerce cannot be underestimated in continuing to drive this progress.
“Ireland benefits from a positive trade surplus with Italy and while the traditional sectors associated with Italian trade such as food and beverages are always strong, the mobile telecoms and financial services sectors are growing also, with companies such as Soldo and Mediolanum operating on these shores.”
Trade Surplus
The value of bilateral trade between Ireland and Italy came to almost €15 billion in 2018, with Ireland running a trade surplus. Goods and services traded range from medical devices to dairy products, telecommunications equipment to transport equipment. In 2018, the surplus in goods exported over imports was €2,056m, with a surplus of €2,897 million in services. In 2018, Italy was ranked as the ninth largest market worldwide for the volume of Irish exports.
Italy’s ambassador Paolo Sherpi commented: “As the world’s ninth largest economy, Italy is well known for its creative and innovative businesses, a large and competitive agricultural sector with the world’s largest wine production, and for its influential and high-quality automobile, machinery, food, design and fashion industry.
“I am gratified to see this valuable partnership between Italy and Ireland gathering momentum and closer ties being forged. The Irish Italian Chamber of Commerce provides a worthwhile resource for Italian businesses wishing to come to Ireland or doing business here,and it is encouraging to see such strong support from the Irish government for this important initiative.”
Photo: Minister Simon Coveney (right), Italy’s ambassador to Ireland Paolo Serpi, Furio Pietribiasi, MD Mediolanum Asset Management, and and Avril Mannion, CEO, Soldo Financial Services. (Pix: Conor McCabe Photography)
