UK and Italy kick off talks on new trade partnership

(Jersey Evening Post, St Helier, 12 January 2022) The UK and Italy have started discussions on a new export and investment partnership aimed at boosting trade between the two countries, the International Trade Secretary announced. Italy is the world’s eighth-largest economy and trade between Rome and London was worth £38 billion last year. Italy is the UK's ninth-largest trading partner, while the UK is Italy’s fifth-largest export market. London and Rome will also try to boost collaboration and sharing of best practice between the two countries’ export credit organisations – UK Export Finance and the Italian Export Credit Agency [SACE] – helping SMEs and companies looking to grow. At the meeting of G20 trade ministers on Tuesday, the International Trade Secretary made the case that British businesses that “play by the rules” should not be “damaged and undercut by market-distorting practices from other countries”. The announcement comes after Ms Trevelyan, UK International Trade Secretary called for greater transparency at the World Trade Organisation and reform of its rules around state subsidies.