Italy Planning to Double Goods Export to Russia's North Caucasus

Italian Honorary Consul General in Russia's North Caucasus and Southern Federal Districts Pierpaolo Lodigiani says that agriculture, construction, medicine and electricity industry are considered main cooperation areas.

PYATIGORSK (Sputnik) — Italy is thinking about doubling the export of its goods to Russia's North Caucasus region, which is now estimated at up to $476 million a year, Italian Honorary Consul General in Russia's North Caucasus and Southern Federal Districts Pierpaolo Lodigiani told Sputnik.

"We estimate exports from Italy to be at 300-400 million euros a year. Of course, doubling this figure is in our plans and interests," Lodigiani said.

The diplomat said agriculture, construction, medicine and electricity industry were considered main cooperation areas.

In mid-November, diplomats and representatives of over 30 Italian companies visited North Ossetia, Chechnya and Dagestan in the framework of the project, aimed at developing business relations between Italy and the North Caucasus region.

Earlier, Ernesto Ferlenghi, president of Confindustria Russia, a business association representing Italian and other foreign companies doing business in Russia told Sputnik that there is no better time than now to invest in Russia, explaining that Russia has the ideal conditions for investment in terms of economic indicators as well as political stability.