FLORENCE, ITALY – Four and a half billion Euro of trade last year alone, an increase in the export value of 80.7% and a volume of imports up by 67.7% between 2009 and 2014. The United States is Tuscany’s leading non-European trade partner. Relations have grown and matured over recent years as never before, with an ever-increasing number of businesses setting up partnerships with the U.S., and political, educational and cultural exchanges which have business ties as well.
Targeted specifically at harnessing the utmost the potential of two strongly-linked geographical areas, USA Day was held at the Salone de’ Dugento in Palazzo Vecchio. A morning devoted to boosting knowledge of commercial opportunities with the United States, the event was organised by the Florence Chamber of Commerce and by PromoFirenze, in collaboration with the Florence City Council and the U.S. Consulate General in Florence. The event was attended by U.S. Consul General Abigail M. Rupp, President of the Florence Chamber of Commerce Leonardo Bassilichi and Mayor of Florence Dario Nardella, the representatives of over one hundred local businesses.
“I believe that the excellent relations between the U.S. and Italy will continue foster even more economic exchanges over the coming years,” announced Leonardo Bassilichi. “American investors now find themselves dealing with a more solid and positive country [Italy] that intends to grow. The excellent work carried out with multinational companies operating in Florence through the One Contact Point project is a clear example of this, and it is sure to act as a stimulus for others in the future. At the same time, we are well aware that the U.S. alone can guarantee such numerous opportunities, on the basis of a shared historic and cultural heritage.”
“TTIP, the new treaty for trade and investments between the U.S. and the EU, will generate increased business and investment opportunities in the U.S. for Tuscan businesses,” explained U.S. Consul General Abigail M. Rupp. “Once finalized, the treaty will allow Tuscan businesses – especially small and medium entreprises – greater access to the U.S. market, thanks to a consistent reduction in tariff and non-tariff related barriers. In addition, TTIP will set international standards for opening markets.”
In 2014, Tuscany exported goods and services to the U.S. for a total value of 3 billion Euro, accounting for 9.5 per cent of total exports, and imported 1.48 billion, equivalent to 7.4 per cent of the total (National Statistics Institute ISTAT data processed by the Statistics Office of the Florence Chamber of Commerce). And the prospects are even brighter. According to the latest survey carried out by the Research Department of Intesa Sanpaolo for the Banca CR Firenze, the increase in the U.S. GDP and favourable Euro/dollar exchange rates are fostering trade growth in many Tuscan districts, such as ceramics in Sesto Fiorentino, wine in Chianti, leather goods and footwear in Florence and Arezzo, textiles and clothing in Prato and Arezzo, furniture in Poggibonsi and agri-foodstuffs in Lucca.
Several proposals for the U.S. market were presented during the course of the morning at Palazzo Vecchio, with a special focus on Texas, which was supported by contributions from experts and specialists working in the various sectors. The afternoon focused on bilateral meetings which were organised by representatives from the Italy-America Chamber of Commerce Texas and PromoFirenze