ITALIAN REPUBLIC DAY AND 55TH YEARS OF DIPLOMATIC ANNIVERSARY OF ITALY AND MONGOLIA WAS HELD
On June 10, 2023, the anniversary of Italian independence and the 55th anniversary of the establishment of diplomatic relations between Italy and Mongolia were celebrated.
Members of Parliament, embassies in Mongolia, government agencies, international donor organizations, professional associations, and representatives of the private sector participated in the celebration.
In her speech, Giovanna Piccarreta, Extraordinary and Plenipotentiary Ambassador of Italy to Mongolia, said that Italy and Mongolia have a mutually complementary economic system, which opens up enormous opportunities.
Italy is one of Mongolia’s main trading partners, with trade turnover reaching $160 million last year. We are the leading importer of dehaired cashmere and the second largest importer of total cashmere. We supported the participation of the Mongolian Wool and Cashmere Association in Milan Fashion Week, while the Italian State Savings Bank provided a $20 million credit line to support a sustainable cashmere supply chain, and our Exim Bank and Italian financial insurance group are also working in this area. Cooperation is developing in many other areas, including electrification, energy transition, sustainable waste management, construction, tourism, and light manufacturing. It was noted that many collaborations are also taking place at the research and scientific level.
