Italy eyes more trade cooperation as guest country of honor at 3rd CICPE

IC

Italy on Tuesday unveiled a dazzling pavilion at the ongoing third China International Consumer Products Expo (CICPE), eyeing more China-Italy trade cooperation.

As the guest country of honor at this year's CICPE, currently being held on the resort island of Hainan, Italy built the pavilion in an area of about 1,800 square meters and has 147 brands participating in the expo – both figures more than double that of last year's edition.

Maria Tripodi, Italian undersecretary of state to the Ministry of Foreign Affairs and International Cooperation, said that the expo marks a new phase of opening up with international communication and that she expects Italian participants to win applause and recognition from the Chinese market.

With a rising influence, the CICPE has provided a new platform for global goods and services to enter the Chinese market and a channel for Chinese consumer products to the world, said China's Minister of Commerce Wang Wentao at the opening ceremony of the third CICPE.

Also at the ceremony, Italian Prime Minister Giorgia Meloni stressed the bilateral consensus to enhance China-Italy trade ties and boost global economic recovery through joint efforts.

This is also why Altagamma, an Italian foundation of luxury brands, attended this year's CICPE. Altagamma has brought 75 of its members to the expo, including car manufacturers Maserati and Lamborghini, and coffee giant Illycaffe.

"Since this year Italy is the guest country of honor, our expectation is to have the opportunity to stage the beauty of our products and to make everybody understand where we come from," noted Stefania Lazzaroni, general manager of Altagamma.

"It's a very special opportunity at this Hainan expo to reinforce this message, and to establish new connections," Lazzaroni added.

Lazzaroni's words were echoed by Paolo Bazzoni, chairman of the China-Italy Chamber of Commerce.

Bazzoni said that China is of great importance to Italian enterprises, and participating in the expo generates more opportunities for Italian brands to enter China and start more businesses in the huge Chinese market.

Italy also set up a booth for the China-Italy Chamber of Commerce at the expo, displaying Italian products like jewelry, garments, accessories, and gelato machines.

Since signing a Memorandum of Understanding on the Belt and Road Initiative between China and Italy in March 2019, bilateral relations have been notably strengthened. In 2022, the total trade volume between China and Italy hit 77.9 billion US dollars, up 5.4 percent year on year.

The third CICPE, which kicked off on Monday in Haikou, will last until April 15. Over 3,300 brands joined the expo, and more than 1,000 products will make their debut.