It was held on Thursday 23th the June Smart Talk with Claudio Pasqualucci, Director of ITA Beirut – the Italian Trade Agency Beirut Office (ITA), responsible for Lebanon, Syria, and Cyprus. The event focused on “Italian Models of Excellence and International Cooperation in the Mediterranean Area”.
After the introductory greetings by the President of the Italian-Cypriot Chamber of Commerce Giuseppe Marino, the discussion was moderated by Costas Katsaros, Vice President of the Chamber.
Firstly, Mr Pasqualucci gave the audience a general overview of the main areas of interest of ITA, with particular reference to the Beirut Office, which supports Italian companies also in Cyprus. In this regard, the recent natural resources discoveries together with the EU funds, have made the island particularly attractive for Italian companies, encouraging the establishment in Cyprus of a hub to develop economic relations in the area, supported also by the MFA budget which aims to enhance activities in the area in several sectors. Thus, the role of the ITA is extremely important not only for its support to the business development of Italian companies abroad but also because it attracts foreign investment in Italy.
The Director of ITA Beirut highlighted how the business opportunities are growing, also thanks to the position of Cyprus in the Eastern area of the Mediterranean, and to the fact that it is a Member State of the EU and therefore has access to the EU funds. One sector that is strongly growing is related to the development of new technologies for renewable energy sources (RES). In fact, the energy sector will most probably be a game changer for investments, not only in Cyprus but also in Lebanon, Syria, Jordan and Med-East, as the Lebanon community in Cyprus has already well-established connections with the UAE countries.
In order to support Italian small and medium-sized businesses in the foreign markets, ITA offers projects in specific sectors or industrial clusters. Moreover, it follows companies on a daily basis in their investigation and market research, and training, offers tools for digitalization and internationalization, provides them with the use of a block-chain system, which guarantees the authenticity of the products, and finally helps with the creation of Italian pavilions during exhibitions. Mr Pasqualucci underlined that Cyprus represents a good opportunity to business development for its geographical position, and the NRRP funds. Also, he highlighted the importance of providing foreign companies participating in procurements with tenders written in English.
Finally, he remarked that In the current geopolitical situation, it is crucial that Italian companies invest in the East-Med area exporting their know-how or the “Made in Italy” products, and advised that the sectors of more interest can be the Italian luxury items, interior design, energy, infrastructure, technology, machinery shipping and innovation. In this light, ITA is collaborating on the Trade Mission organized by the Italian-Cypriot Chamber of Commerce, which is taking place from 13-15 July, with a particular focus on “Infrastructure and Transport”. He concluded by stating that the trade mission will be an important sign of the ongoing cooperation on the above-mentioned goals and that the synergy and the cooperation developed in the last year with the Chamber has great growth opportunities.
For further insights and information on the activities of the Italian-Cypriot Chamber of Commerce, please write to: segreteria@camcomitacipro.it
Last modified: July 1, 2022