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March 15, 2016

The Ministry of Industry signed a cooperation agreement with the Confederation of Italian Industry in Russia

The Minister of Industry and Trade, Denis Manturov signed a cooperation agreement with the President of the Italian Confederation of Industrialists, Ernesto Ferlenghi, announced the Ministry's press service.

Manturov expressed gratitude to the leadership of the association, who initiated the meeting, as well as the Italian embassy and the attending heads of industrial companies.

"Italy is one of the most important partners of the Russian Federation. With Italy, we have established and developed intensive interaction, providing a rich political and trade-economic partnership. However, the level of bilateral trade is currently not fully in line with the industrial potential of our countries," said Denis Manturov.

The Minister spoke of the all-around openness and readiness to develop a long-term, equal and mutually beneficial partnership, as well as the implementation of new investment projects. He spoke about a number of successful examples of bilateral industrial cooperation in aircraft construction, mechanical engineering, metallurgy and pharmaceutical industries. The Minister informed Italian colleagues of the existing specifics of the special investment contract. The law "On industrial policy" implies that the contract concluded with the companies showing interest in localization processes and implementing a transfer of modern technologies in the industry. Denis Manturov offered Italian industrialists to consider this a tool of state support and the opportunity, which will soon open up.

The Minister stressed the interest in the development of business relations in the sphere of industry and urged Italian partners to cooperate actively in this field.

The meeting was concluded with the signing of a cooperation agreement between the Ministry of Industry and Trade of the Russian Federation and the Association of Italian industrialists' the Confederation of Industrialists. The document was signed by Denis Manturov and Ernesto Ferlenghi. The agreement, in particular, is aimed at supporting projects to create new highly technical industries and increasing demand for Russian and Italian industrial production on the markets of both countries, said the press service of the Ministry of Industry and Trade.

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