During the attendance of Deputy Governor Denis Butsaev and Deputy Minister for Innovation and Investment Anton Loginov at the Manufacturing Summit, held on 7 and 8 June in Cernobbio, Confindustria Lombardia and the Moscow Region signed a cooperation agreement to foster economic exchange, in terms of both exports/imports and investments, between the two regions.

In light of the investment attraction policies promoted by the Moscow Region, which were presented to Lombardy-based companies in May, a desire to develop medium-term cooperation has emerged, thanks to the collaboration with Confindustria Russia.

The intention to strengthen ties with Moscow, despite the embargo currently in force on certain products, is in line with Confindustria's stance against Russian sanctions. President Vincenzo Boccia has, in fact, emphasised that "regarding Russian sanctions and protectionism in general, policymakers must take responsibility, because, as I have already had occasion to point out, it triggers a harmful mechanism that benefits no one, and it is one of the obstacles to be overcome for the realisation of the fourth industrial revolution".

The objective of the agreement is to assist Lombardy-based companies, which have lost significant portions of their turnover due to the sanctions, in maintaining a presence in the Russian market by developing bilateral activities to foster trade and regional attractiveness.

Following the Manufacturing Summit, Confindustria Lombardia also organised a meeting between the Russian Deputy Governor and the President of the Lombardy Region, Roberto Maroni, to discuss broader cooperation.

Attachments

• 170609 Signed agreement.pdf