Italy and Macedonia are strengthening their trade and diplomatic ties, and the Italian Embassy in Macedonia is an influential advocate for more partnerships between the two countries. HE Ernesto Massimino Bellelli, Ambassador, discusses recent bilateral projects.
European Times: Can you describe the relationship between Macedonia and Italy?
Massimino Bellelli: Italy is deeply engaged in Macedonia on the economic, diplomatic and military levels. Italy, as a member of both the EU and the Quint Group, is committed to supporting Macedonia in its efforts to achieve EU integration, NATO membership, and a resolution of the name dispute with Greece. Italy is helping Macedonia strengthen its regional ties, for example through supporting the Corridor 8 transport project as well as Macedonia’s presidency of the Central European Initiative this year.
European Times: What are some recent trends in bilateral trade and investment?
Massimino Bellelli: The value of the two countries’ bilateral trade rose by 7.45% in 2014 to reach around €672 million and Italy expects this to continue to grow to €1.5 billion in the next 10 years. Italian investment in Macedonia is also increasing. The Italian embassy organised a business forum last year to promote investment in Macedonia, and almost 100 Italian entrepreneurs participated. In 2014 alone, three new Italian investment projects were launched in Macedonia. Macedonia’s agriculture, ICT and automotive sectors are very attractive to Italian investors, and the tourism sector is another economic opportunity, especially now that Alitalia has daily flights between Rome and Skopje. The Italian embassy is supporting bilateral cultural exchanges; such as an exhibit in Skopje last year on Ravenna’s mosaics, and Italy is ready to help Macedonia develop cultural tourism.
European Times: What are the challenges to Italian investment in Macedonia?
Massimino Bellelli: There are no Italian banks in Macedonia so far, which is a barrier for small and medium-sized Italian companies since they would have difficulty obtaining credit from Macedonian banks. Transport infrastructure is another issue. Around 15,000 Italian companies are present in Romania even though Macedonia is closer to Italy, and infrastructure issues are a main reason. This is why the Corridor 8 project is so important for Macedonia. Macedonia also needs to improve its tender process. One recent international tender was described only in Macedonian and all documents had to be in Macedonian. I have suggested to the Macedonian government that it should create a one-stop-shop service for small and medium-sized foreign companies interested in the Macedonian market.
European Times: Why should investors choose Macedonia?
Massimino Bellelli: Macedonia offers very attractive costs of doing business along with many potential investment projects. Macedonia is ranked number three in the world in starting a business in the World Bank’s “Doing Business” report for 2015. A problem is that many international investors and especially in Italy still do not know much about Macedonia and its potentialities, although, Macedonia is quite popular name in our cultural background, being a sort of a harmonious melting pot for its ethnical and religious variety and representing, under this point of view, a “successful story”. The Italian Embassy is trying to promote this image and to present the investment and business opportunities here in Macedonia towards the Italian companies.
European Times: What is your personal message about Macedonia?
Massimino Bellelli: I believe Macedonia has a very positive future and could grow tremendously in the next few years compared to other countries in the region. Macedonia has a lot of assets and investors should be aware of opportunities here.
