FIPA and Promos Italia ink agreement to boost Italian investments in Tunisia

(TAP)-The Investment in Tunisia (FIPA-Tunisia) and Promos Italia on Monday in Milan, inked a memorandum of understanding to boost the Italian companies’ investments in Tunisia, the agency said on Tuesday.

Signed by FIPA Director General Abdelbasset Ghanmi and Promos Italia President Alessandro Gelli at the Milan Chamber of Commerce, this agreement seeks to “establish cooperation between the two structures and devise a joint strategy to improve trade relations between Italy and Tunisia.” 

This memorandum will help “maintain a permanent dialogue” aimed at identifying investment fields in both countries, and to encourage the exchange of technical competences and training opportunities.

Alessandro Gelli explained that this agreement is part of the development of the worldwide network of Promos Italia, the Italian Agency for the Internationalisation of Companies, a structure of the Italian Chamber of Commerce system, with strategic markets, underlining that this partnership covers the information, communication, promotion and support to companies fields.

The conclusion of this agreement is motivated by the fact that Tunisia remains an attractive investment destination because of “its geographical closeness, its investment promotion regulations and the low cost of production,” according to a Promos Italia press release.

Over 800 Italian companies are established in Tunisia, according to FIPA statistics. They employ more than 60,000 people and account for almost a third of the foreign participation companies.

Trade between Italy and Tunisia in 2021 reached 5.5 billion euros, against 4.5 billion euros in 2020, up by 22%.

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