Italian Trade Agency head praises Turkish economy

Despite the loss of confidence among some Italian companies due to political turmoil in the country, Turkey remains an attractive market for Italy, according to the head of the Italian Trade Agency. The fundamentals of the Turkish economy are good, says Piergiorgio Borgorelli, adding they will continue their promotional investment despite Moody's recent downgrade. 'Moody's is not God,' says Borgorelli.While terror attacks periodically throughout the year as well as the failed coup attempt on July 15 in Turkey have scared away some Italian companies, the government in Rome was committed to helping Turkey restore trust, as the country remains an attractive market, according to the head of the Italian Trade Agency. 

"Turkey is still a high growing economy. There is slowing down, but not like other countries in the European Union, like Italy, where the growth rate is less than 1 percent. So we consider Turkey an important market," said Piergiorgio Borgorelli, CEO and managing director of the Italian Trade Agency.

Italy's share in Turkey's overall imports was at 5 percent and there was a 5 percent increase in imports from Italy in the first six months of 2016 in comparison to the first six months of 2015, said Borgorelli.

As there was potential for Italy to increase its share in the market, the Italian Trade Agency would increase its promotional investments, Borgorelli told the Hürriyet Daily News in an interview on Sept. 29.

"By promotional activities we mean activities to support our companies to improve their access to Turkish markets. That could be through participation in big trade fairs, or inviting Turkish companies to Italy for better matchmaking among companies," he said.

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