Italy's Foreign Direct Investment In Russia Reaches $4.3Bln - Russian Trade Minister

Sumaira FH Published December 17, 2018 | 09:06 PM

Italy's foreign direct investment in the Russian economy has reached $4.3 billion and continues to grow, Russian Minister of Industry and Trade Denis Manturov said Monday during his visit to Italy.

ROME (UrduPoint News / Sputnik - 17th December, 2018) Italy's foreign direct investment in the Russian economy has reached $4.3 billion and continues to grow, Russian Minister of Industry and Trade Denis Manturov said Monday during his visit to Italy.

The Russian minister is participating in the 16th session of the Russian-Italian Council for Economic, Industrial, Monetary and Financial Cooperation, which started in Rome earlier in the day.

"We are pleased to note the continued growth of Italy's foreign direct investment in our country, which has reached $4.

3 billion. At the same time, the Russian investments in the economy of Italy amount to $2.8 billion. I think that both figures are still far from the possible maximum," Manturov said at a session of the council.

The minister went on to express hope that both sides would increase their respective investments.

Russian-Italian trade is expected to reach $28 billion in 2018, which is $4 billion more than last year, yet significantly lower than the highest figure to date $54 billion in 2013, according to Russian trade representative in Italy Igor Karavaev.