Italy and NZ commit to doubling two-way trade

Italian Deputy Minister for Economic Development, Ivan Scalfarotto and New Zealand Minister of Trade, Todd McClay, have jointly hosted a business event in Milan today committing to doubling two-way trade between the two countries.  

Mr McClay is on a trade promotion visit to Europe and today joined his Italian counterpart at a Business Roundtable with 30 New Zealand and Italian businesses.

“At my last meeting with Mr Scalfarotto, we reaffirmed our commitment to expanding bilateral trade and agreed to bring our business communities together,” says Mr McClay.

Mr Scalfarotto said today's Roundtable event had demonstrated the supportive business environments and commercial opportunities that exist in both countries and celebrated the areas of collaboration and innovation between New Zealand and Italy.

Two way trade currently stands at NZ$1.5 billion and is focused on machinery, hides and wool, food and beverage, and technology.

The two ministers believe two-way trade can double and have committed to create more business-to-business links to allow this to happen.  

“Another way to expand trade ties is through the conclusion of a Free Trade agreement between New Zealand and the European Union, which will bring win-win outcomes for both countries,” says Mr McClay.  

He thanked Mr Scalfarotto for his support.