Opening up, cooperation crucial for China and Italy: expert

ROME July, 25 (Xinhua) -- China is a crucial market for Italy, an Italian expert said in a recent interview with Xinhua, emphasizing the need for both countries to keep opening up and cooperate with each other.

The trade and economic exchanges between Italy and China date back several centuries, said business professor at Rome LUISS University Antonio Majocchi, adding that Italy should continue to advance its cooperation with China rather than close its doors to Chinese products.

"Over the past few decades, China has experienced astonishingly rapid development and is now a world leader in industries such as green energy and the internet. Italy can learn a lot from China in these areas," Majocchi said.

China is already a leader in electrical vehicles (EVs) while Italy has its own traditional strength in automotive design, therefore the two countries can engage in deep cooperation and complement each other to maximize mutual benefits, the professor noted.

According to Majocchi, the Chinese consumer market is not only important for Italy, but for the whole Europe. China's continued opening up has enabled many Italian companies to successfully invest in China. "Through mutual opening up and investment, China and Italy can achieve a win-win cooperation," he said.

Italy is renowned for its numerous small- and medium-sized enterprises (SMEs), and there is significant potential for cooperation between Chinese and Italian SMEs, Majocchi said. For example, China-Italy research projects between universities and research institutions can serve as platforms for SMEs and startups to explore and learn from each other.

Cooperation between China and Italy is in everyone's best interests, Majocchi emphasized, adding that more dialogues to strengthen the relationship between the two nations are in the pipeline.