From Catania to St. Petersburg awaiting news on Italian agribusiness in Russia

Italy might localize its production of food-stuff in Russia, report Russian media
From Catania to St. Petersburg awaiting news on Italian agribusiness in Russia
02 May 13:01 2016 Print This Article
Italy might help Russia with “import substitution”. The country is considering localizing production in Russian regions, Izvestia daily reports.
The Russian Agricultural Ministry offered Italian producers 29 investment projects in nine Russian regions (Bashkortostan, Kabardino-Balkaria, Krasnodar region, Belgrad, Voronezh, Kastroma, Moscow, Orenburg, and Tambov region), Russian Ambassador to Italy Sergey Razov said during the 8the Russian-Italian business forum held in Catania, April 22. Back then, the Italian side showed great interest.
Italian agricultural producers have reportedly lost EUR900 million because of the Russian food embargo. The new projects are seen as a chance to start exporting investment and technology rather then the banned products. The newspaper reports, citing an unknown source, that investment projects comprise initiatives in various sectors, in particular, with the help of Italian investors, Russia wants to start it’s own production of gorgonzola and ricotta cheeses as well as poultry and livestock feed. It’s also planned to build a trout farm and to grow fruit and vegetables.
Another round of talks is scheduled in June during St. Petersburg International Forum that will see large Italian delegation.
According to Izvestia, 29 investment projects is not an end. There is another project under discussions which provides for creation of an agricultural farm in Russia-China border regions. Products from there could potentially be exported to China, reports Izvestia.

 

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