ROME: A memorandum of understanding to boost the investments of Italian companies in Tunisia was signed in Milan by the Foreign Investment Promotion Agency and Promos Italia.
FIPA Director General Abdelbasset Ghanmi and Promos Italia President Alessandro Gelli said at a press event attended by Arab News that the MoU seeks to “establish cooperation between the two structures, devise a joint strategy to improve trade relations between Italy and Tunisia, and encourage the exchange of technical competences and training opportunities.”
Tunisia is an attractive investment destination for Italian companies because of “its geographical closeness, its investment promotion regulations and the low cost of production,” said Gelli.
“Furthermore, Tunisia represents for Italy a bridge over the Mediterranean, a natural production platform for Italian companies committed to diversifying their activities and penetrating new markets in North Africa, the Gulf and French-speaking Africa. In this country, the presence of Italian companies is strong and well rooted.”
According to FIPA, more than 800 Italian companies are established in Tunisia, employing more than 60,000 people.
Bilateral trade in 2021 reached €5.5 billion ($5.95 billion), up 22 percent from €4.5 billion in 2020.
