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NT Bureau
Chennai, Feb 11:
 

Italian Prime Minister Romano Prodi addressing delegates at the CEOs roundtable session organised by CII in Chennai yesterday.

        'Developing a solid and tangible economic partnership with India is my top priority. We have to use all our instruments in order to increase our trade relations. Political and economic dialogue between India and Italy will be more encouraging for European Union (EU) and more encouraging for me,' observed Italian Prime Minister Romano Prodi.

        In his address at the CEO's roundtable session organised by the Confederation of Indian Industry (CII) here Prodi said: 'India exerts an extremely powerful attraction on us in Italy. My ambition is to transform this attraction, which I would say is almost natural, into a more solid and tangible economic partnership. We want to expand our presence here. And we also want you to increase your presence in Italy.'

        The Prime Minister said that given the potential for trade between the two countries, the current level of Indo-Italian bilateral trade is absolutely not enough. We have to move this forward. Both our countries have major synergy. Like India, Italy has a sound base of small and medium enterprises. There must be a strategy to kick off partnership between the Indian and Italian SME sector,' he emphasised.

        Prodi said that as a head of the government, but also as an economist, I would like to emphasise the fact that trade is the starting point in any economic partnership, to be developed and consolidated. Italian companies including the small and medium size enterprises, are now becoming internationalised and wish to become established in the emerging markets. The Italian government is helping them and accompanying them abroad, as in this case. He said that the Indian businesses, which are growing on the domestic and international markets, should make the European Union as the first commercial partner.

        'Italy is in one of the leading positions. Italy is putting herself forward as India's entrance gate to Europe, for both goods and services,' he said and added lying at the heart of the Mediterranean, Italy is a crucial link, thanks to the road, maritime and air links between northern and southern Europe. This means a base in Italy can do a great deal to provide access to 500 million consumers in 27 EU member states and the 240 million consumers in North Africa and the Middle East.

        India's industries and services, which are preparing to establish important economic bases in Europe - as India's leading commercial partner - can exploit this advantage.

        'It is my priority to provide all government assistance to Indian investors in Italy,' he said and added that his government has also given a strong priority to strengthen Italy's logistics infrastructure, especially that of ports and container facility, for the benefit of foreign investors.

        He pointed out that already, a significant number of large Italian companies have entered into partnership with several Indian companies. 'We do not have to start from scratch but there is already something substantial on which we can enhance our corporation,' he said.

        He asked the Indian industry to evolve a Europe centric strategy and increase its presence in Italy. He said that in order to encourage and facilitate Italian businesses in India, banks and financial institutions must come forward to play a catalyst role. Further, there must be links between universities of both the countries.

        Italy Minister for Trade Emmo Bonino said that Italy fully reconciled with the new reality of India as key political and economic player. It is an important strategic player on the global scene and an essential partner for international stability.

        'We would like to see more businessmen from Tamilnadu to come to Italy and to explore the possibilities that Italy can offer, in terms of trade and economic cooperation,' she said.

        'Besides automotive industry, there is business flourishing in Tamilnadu in several important areas: leather. textile, information technology, agriculture and biotech, as well as many others.' she said.

        In his opening remarks, R J Shahaney, past president, CII said that the Italian Prime Minister had long been associated with the India and its industry. Ever since Prodi became the Prime Minister, there has been a significant increase in economic and political cooperation between India and Italy. He added that the Indian economy, which is growing at over 9 per cent, is targeting to achieve a 10 per cent growth. To increase the trade between the two countries it is important to come up with a road map urgently.

        CII president R Seshasayee said that India and Italy will have to try and look at improving the people to people contact; partnership between the SMEs of both the countries for sustainable business growth and tie-ups between research institutions and universities. Earlier, Seshasayee presented a copy of the CII Report on 'Expanding the Indo-Italian Partnership' to the Prime Minister of Italy.