Italy’s trade with Africa

4 dicembre 2017 - Italy’s trade with Africa is worth some 34 billion euros a year and “can grow a lot,” Premier Paolo Gentiloni said in Angola, the second leg of a four-nation trip to Africa. Italy last year, with over 12 billion euros, was the third world investor and first European in sub-Saharan Africa,” Gentiloni told a press conference with Angolan President Joao Lourenco.
“The involvement of the EU and cooperation (aid) is needed, but we must involve foreign public and private investments for the future of Africa,” Gentiloni said.
Gentiloni also said Italy’s preence in countries like Angola can be boosted by Italy’s economic recovery, and stressed that “Italy clearly sees that the EU’s future is at stake in Africa”. Lourenco urged Italian small and medium-sized firms to come and invest in his country. Gentiloni said Italy backed Angola’s reforms and economic revival. Italian fuels group ENI signed two major deals with Sonangol on the occasion of Gentiloni’s visit. The Italian premier started his tour in Tunisia saying “we are protagonists of a new link with the continent”.