Italian Ambassador Discusses Business Engagement During Visit to Kyiv

Italian Ambassador to Ukraine Carlo Formosa shared insights in an interview with Nova Agency about a crucial meeting that took place during his recent visit to Kyiv. This meeting included 17 representatives from Italian companies that had invested in Ukraine prior to the full-scale war and have maintained their operations amid the challenging economic landscape.

Formosa emphasized that Italian entrepreneurs possess substantial experience and knowledge that could serve as a foundation for new players planning to enter the Ukrainian market when conditions permit. 'Italian entrepreneurs have accumulated significant experience and knowledge that can be the basis for those who will enter the Ukrainian market when conditions allow,' he stated.

The diplomat also highlighted that each of these companies' stories exemplifies resilience and dedication to Ukraine. Many of them have deep roots in the Ukrainian business environment, reflecting their long-term commitment to the country.

Formosa clarified that the companies represented span a wide range of sectors, including financial services, energy, footwear manufacturing, technical services, architecture, food distribution, building materials, textiles, publishing, and pet products. 'This experience is important for the future economic presence of Italy in Ukraine,' he added.

The ambassador stressed that the ability to share experiences and knowledge with new market participants is extremely valuable. 'Imagine what it means, in terms of experience and knowledge, to have the opportunity to share all of this with those who are entering this market,' Formosa emphasized.

In his view, the Ukrainian authorities recognize that the business communities that remain active during the war are an 'irreplaceable asset.' They foster trust in the Ukrainian market among potential investors, which is critically important for the country's economic recovery.

According to data published by Ukrinform, trade volume between Italy and Ukraine could reach 4.5 billion euros by 2025. The bilateral economic relations between these countries are based on complementarity: Italy exports machinery, pharmaceuticals, and agri-food products to Ukraine, while importing agricultural raw materials and metallurgical products.

It is worth noting that on March 31, a delegation of foreign ministers from European Union countries, led by EU High Representative Josep Borrell, visited Kyiv. They paid tribute to the victims of the Russian occupation in Bucha, near Kyiv, and held an informal off-site meeting in the capital of Ukraine.

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