China and Italy must ramp up bilateral trade, Bonino says
Business, science, oil, engineering among topics with FM Wang Yi30 October, 20:10
''I hope our trade balance will gradually even out. The potential is huge'', Bonino said, pointing out that Italy invests 11 billion euros in China while Chinese investments in Italy total 1 billion euros.
Italy will do its part, she said. ''We are gearing up to do so, with our Destination Italy project''.
The Italian minister went on to praise excellent current bilateral relations, which include a ''dense network of relationships between businesses, our scientific communities, universities, and territories''. Italy will open a new consulate in Chongqing, a major city in Southwest China, in January 2014, she said, adding that ''Italy gives one fourth of its Schengen visas to Chinese people coming into Europe''. Schengen visa holders can travel to any member country on a single visa, thus avoiding the hassle and expense of obtaining individual visas for each country. ''We commit to working together to increase reciprocal investments, especially Chinese investments in Italy's high-tech sectors'', the ministers said jointly in a note. ''These include aerospace, aviation, bio-medicine, energy efficiency, environmental protection, information and communication technology, mechanical engineering, nanotechnology, oil prospecting, renewable energies, and shipbuilding''.
Italy also encourages China to invest in its logistics, infrastructure, and redevelopment sectors, the note said.
Both ministers will work together to make the Expo 2015 World Fair in Milan a great success.
''It will be an extraordinary opportunity to exchange experiences and know-how, and to strengthen the links between our two countries'', the note concluded.