Ireland and Italy forge deeper economic alliance with new Memorandum of Understanding
ROME, 21 July: Ibec, the representative body for Irish business and employers, alongside Unioncamere (the Italian Union of the Chambers of Commerce, Industry, Handicrafts and Agriculture) and Assocamerestero (the Association of the Italian Chambers of Commerce Abroad), have signed a tripartite Memorandum of Understanding (MOU) to significantly strengthen economic, trade, industrial, and commercial relations between Irish and Italian enterprises.
When competitiveness is increasingly built on trusted partnerships, shared capability and resilient international relationships, the three-year understanding, signed in Rome, establishes a robust framework for direct collaboration, information sharing, and coordinated advocacy at the European Union level.
The MOU places a heavy emphasis on coordinated engagement with the European Commission, the European Parliament, and other EU bodies. This includes drafting joint position papers and collaborating with prominent European-level representative organisations such as BusinessEurope, SMEunited, and Eurochambres. Special attention will also be given to supporting small and medium-sized enterprises expanding into each other's markets, while fostering joint projects centred on vocational training, digitalisation, innovation, resilience, and the green transition.
Danny McCoy, CEO of Ibec, said:
“This understanding solidifies our shared commitment to the promotion of enterprise, trade, and investment between our respective business communities. As economies become more interconnected and the global environment more complex, resilience is becoming a defining feature of competitiveness. Strengthening partnerships between Irish and Italian businesses will help create new opportunities for trade, innovation, investment and collaboration, while building the trusted relationships that enable businesses and economies to adapt, grow and succeed over the long term.
“The signing of this understanding comes at a time of robust and growing commercial exchange between the two nations. Italy ranks as roughly the sixth-largest destination market for Irish goods and services, with Ireland's exports worth about €8 billion annually, heavily propelled by high-value sectors such as organic chemicals and specialised pharmaceutical products.”
Giuseppe Tripoli, Secretary General of Unioncamere, said:
"Through this understanding, we aim to foster a dynamic exchange of studies, policy analyses and best practices on issues of shared strategic importance, including the twin transition and skills development. By promoting direct dialogue, we will be able to strengthen economic cooperation, research, industrial synergies and the development of joint initiatives.
The Irish market is of significant importance to Italy. Italian exports to Ireland are expected to reach approximately €5.2 billion in 2025 and continue to show strong growth, with exports totalling €2.1 billion in the first quarter of 2026, compared with €980 million in the same period of the previous year. This growth is driven by a diverse range of products, including agri-food goods, pharmaceuticals, industrial machinery and consumer products. These trade flows can be further enhanced by reducing barriers for small and medium-sized enterprises and by fostering closer collaboration between the business ecosystems of our two countries."
Mario Pozza, President of Assocamerestero, said:
"This partnership also represents an important opportunity to support small and medium-sized enterprises in their internationalisation efforts. Through the combined network connecting Italy, Ireland and the 64 countries in which the 86 Italian Chambers of Commerce Abroad operate, we will be able to promote innovation and facilitate the sharing of expertise.
Assocamerestero, also through the activities of the Italian Irish Chamber of Commerce, will contribute by sharing original and strategic information on economic and commercial developments and by monitoring changes in the regulatory and legislative frameworks in both countries. To further strengthen ties between the two business communities, networking and business matching initiatives will be promoted, creating new opportunities for companies and stakeholders to connect and collaborate."
ENDS
