Red Sea: the government working to safeguard Italy's centrality in global logistics routes.

The Deputy Prime Minister and Minister of Foreign Affairs and International Cooperation, Antonio Tajani, presided today at the Ministry of Foreign Affairs, together with the Minister of Business and Made in Italy, Adolfo Urso, the first meeting of Round table on the consequences of the crisis in the Red Sea for the Italian economy.

«The Government stands alongside companies that operate abroad, even in crisis situations that need to be addressed with a systemic approach»Said Tajani.

«We immediately took action to launch the European Aspides operation, which is carrying out a fundamental function aimed at re-establishing the safety and freedom of navigation in the area: we will do everything to protect the Italian maritime system and our production system from the consequences of this crisis", he added Tajani.

«Economic security is increasingly the asset on which our Italy and our Europe will have to move, in a global context in which various risk factors persist as a consequence of the conflict in the Middle East», declared the Minister Urso. «The economic values ​​linked to the crisis in the Red Sea are very high: just consider that the maritime route through the Suez Canal is crucial for Made in Italy exports. Another concern is the risk of a diversion of traffic from Asia to Europe, to the detriment of the Italian port system and the economy connected to it».

They took part in the meeting representatives of trade associations and companies in the sector who presented an overview of the situation on the evolution of the economic framework in the area, seen from the entrepreneurial perspective.

Before the current crisis in Red Sea, Italy's trade flows through the Suez passage they were equal to approximately 148 billion euros, or 42,7% of the country's foreign trade by sea and 11,9% of our total foreign trade. The Government is working to avoid the risk that the consequences of the crisis become structural and to safeguard the centrality of our country in global logistics routes, confirming our role as Europe's logistics platform at the center of the Mediterranean. This also with an awareness raising action by our international partners, in particular through the Italian Presidency of the G7. In this regard, the July meeting of G7 Trade Ministers in Reggio Calabria, which will be chaired by Minister Tajani, will serve to give specific political attention to the effects of the Red Sea crisis.