Italy is strengthening its trade relationship with China through new agreements worth around $US410 million, aimed at supporting Made in Italy producers and manufacturers.
The agreements follow an Italian Foreign Ministry trade mission to China in April and form part of a new strategy designed to expand the presence of Italian products in the Chinese market, including through major e-commerce platforms.
For family-owned olive oil producer Marfuga, based in the hills of Umbria, the Chinese market has become a crucial part of its international growth strategy.
"We started working with the Chinese market about 10 years ago, when olive oil culture in China was in its early stages and there were only commercial oils. Since then, the market has developed significantly, and other major producers of premium oils have entered it," Marfuga CEO Francesco Gradassi told CGTN.
Gradassi said online retail is also key in reaching Chinese consumers.
"We're also making major progress online, where the Chinese market is growing exponentially. Our products are available on JD.com and Tmall, and through these channels we're also communicating that olive oil is not just a condiment but is also valued for its health benefits," he told CGTN.
Regional leaders say Umbria is particularly well positioned to benefit from commercial ties with China in key sectors including agri-food, machinery and luxury goods.
"The growth trend of Umbrian exports to China is much stronger than that of other Italian regions. It's a strategic market that we need to invest in," Umbria Region President Stefania Proietti told CGTN.
The agreements are also expected to strengthen long-standing industrial partnerships.
Umbrian concrete mixer manufacturer OMG S.r.l. / Sicoma S.r.l. first entered the Chinese market in 2000 through a joint venture in Zhuhai, Guangdong Province.
"From 200 mixers in two years to 500 and 1,000 up to 4,000 mixers in a year reached several times along the way in 25 years. That was an incredible achievement for us," Managing Director Luca Galletti told CGTN.
Business leaders say companies must diversify to adapt to an uncertain global trade environment.
"This is a crucial moment, because what was true three years ago, now is not true. We have to find which are the very niche markets in which the high technology, creativity and the quality of the Italian products can be competitive," Enzo Faloci, Director of Confindustria Umbria and Umbria Export, told CGTN.
Therefore, the new agreements represent fresh opportunities to build on decades of cooperation with China while expanding the global reach of Italian-made products.
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