Italian PM courts Chinese investment on Beijing visit

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Italian Prime Minister Matteo Renzi met Wednesday with top leaders of China’s ruling Communist Party, the latest European leader to beat a path to Beijing’s door hoping to attract more investment.

Renzi, the 39-year-old former mayor of Florence, met with Chinese President Xi Jinping, Premier Li Keqiang and National People’s Congress Chairman Zhang Dejiang on his first trip to China since becoming Italy’s youngest-ever prime minister in February.

“Many people think efficiency (in Italy) is not so good and China has grown very fast, so we need to study China,” Renzi said after a meeting at which he and Li signed ten agreements, including a deal for Shanghai Electric to buy a 40 per cent stake in Italian power engineering company Ansaldo Energia.

“We need to work hard to attract more Chinese companies to come to Italy to invest,” he added. “Today, these agreements signify the new road.”

European leaders are determined to court China’s booming economy. In December, British Prime Minister David Cameron visited Beijing with a retinue of business leaders in tow.

France scored something of an economic and diplomatic coup in March by signing a string of deals worth 18 billion euros ($25 billion) after Xi made a lavish state visit to Paris.

Italy, with the third-biggest economy in the eurozone after Germany and France, is striving to introduce reforms to strengthen its economy and competitiveness, as well as to underpin its widely based exporting industries.

Renzi’s visit to Beijing came one day after he delivered a speech at the Shanghai Italian Centre in which he touted the upcoming 2015 Expo Milano as an opportunity to boost Sino-Italian economic cooperation, according to China’s official Xinhua news agency.

Li said after Wednesday’s signing ceremony that both countries agree their bilateral trade and investment “should have a big upgrade”.

“Combining Italy’s technology and China’s vast market is not only a benefit to both countries” but also helps in opening up “third markets in other countries”, he said.

The Chinese premier also made a reference to Marco Polo, the 13th century Italian explorer renowned for his travels to imperial China.

“We both believe we can’t return to Marco Polo’s time, but we hope that between China and Italy, there will be more Marco Polo-style people making China-Italy relations the forefront of relations between China and Europe,” Li said.

 

 

 

 

 

Source : Channel News Asia | June 11, 2014

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Thomas D'Innocenzi is a highly accomplished, results-focused senior international executive with extensive experience in global sourcing and market development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global sourcing operations worldwide. Extensive experience in international market development operations to accommodate rapid growth. Skilled in building top-performing teams, benchmarking performance, and restricting organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. As principal of Nova Advisors, LLC I’ve assembled an exemplary team that brings with them the knowledge and experience gained from starting up a Global Sourcing program with multiple Fortune 500 companies as well as the largest supplier network throughout the Asia-Pacific region. We have experience and expertise in more than a thousand medical and pharmaceutical products in manufacturing and sourcing at the best value. The right product, the right price point and the right branding fueled these successes that resulted in double-digit growth for top line sales and bottom line net margins for our customers. What sets us apart: • Our reach includes a large network of suppliers & manufacturers spanning 13 countries in Asia-Pacific region • We understand the manufacturing process and the business of the supplier and the buyer • Our company culture is based on quality assurance and our process is based on local quality control Our commitment is to be your partner offering the best products and services at the lowest cost. Contact me to discuss how we can make the global marketplace work for you. thomas@novaadvisors.com In addition, I am open to discussing opportunities in global sourcing, international marketing & sales, logistics and medical/pharma in Thailand, Vietnam, Malaysia, Philippines & Japan. Aside from my work I enjoy piano, astronomy, physics, and assisting my daughters with their studies. SPECIALTIES: Global Sourcing, Supply Chain Management, Business Development, Marketing, Logistics, Global Networking, Market Development, Healthcare Solutions, Pharmaceuticals, Medical Devices, Technology, Asia, Southeast Asia, US and Canada
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