Italian Ambassador: Ukraine Could Become Economic Miracle
Ukraine-Italy trade is approaching five billion euros yearly
Photo from Kyivpost
Italian Ambassador to Ukraine David La Cecilia said that Ukraine could become another economic miracle.
“I believe that Ukraine is the next economic miracle. It’s really a small China in terms of resources, talents and space,” La Cecilia said. “Our companies should be well-positioned to make the most of the moment when the legislation and implementation will start this economic boom.” he said, Kyivpost reported.
Ukraine-Italy trade is approaching €5 billion (about $5.6 billion).
“We recovered the gap that was produced by the crisis in 2013 and 2014,” he said. “What a fantastic country this would be to visit if there were better roads. This is a big, big country; twice as big as Italy and connection is everything. There are companies in Italy that are very well-positioned in construction infrastructure and electronics infrastructure as well.”
According to the Italian ambassador, despite positive changes, Ukraine should do a better job with anticorruption measures to encourage further Italian investment. Currently, about 300 Italian firms are operating in Ukraine.
“Italian companies are small and medium and they need to be particularly protected. The business environment is fundamental. In this regard, the European Union and G7 ambassadors are trying to promote the fight against corruption and to increase the rule of law,” he said.
An Italy-Ukraine Business Forum will take place in Rome on June 13 focused on energy, infrastructure and agriculture.
The General Confederation of Italian Industry, or Confindustria, will participate on the Italian side. It is the largest business group in the nation. On Ukraine’s side, top-level speakers will include Stepan Kubiv, Ukrainian deputy prime minister; Anatoly Kinakh, head of the Ukrainian League of Industrialists and Entrepreneurs; and Olha Trofimtseva, the agricultural minister.