Recently, the Italian Chamber of Commerce in the Philippines, Inc. (ICCPI) provided me with a copy of the Italian government’s newly approved Action Plan for Exports. This initiative is a bold step toward exploring markets outside the European Union, placing a particular emphasis on Southeast Asia, including the Philippines. As someone actively involved in fostering Italian-Philippine economic ties, I welcome Italy’s recognition of this region’s immense potential and its commitment to strengthening partnerships that are mutually beneficial.
The Action Plan is a new, concrete tool designed to accelerate Italian exports to high-potential non-EU markets. It will be implemented through a teamwork approach by the Ministry of Foreign Affairs and the agencies of the Sistema Italia. This phrase, which translates to “Italy System,” is a coordinated network of Italian institutions, businesses, and organizations working together to promote Italy’s economic interests globally. By facilitating dialogue between Italian companies, local operators, and foreign counterparts, the Action Plan aims to foster economic cooperation and enhance commercial opportunities. Crucially, this initiative can create a positive ripple effect for partner nations, including the Philippines, as trade and investment activity can lead to job generation, technology transfers, and stronger economic growth. This is a development that I am truly happy about.
In the document’s introduction, Foreign Minister Antonio Tajani proudly shared that Italy has long been a global powerhouse in exports, accounting for 40 percent of its Gross Domestic Product (GDP) and ranking as the sixth-largest exporting country in the world. In 2024, Italian exports totaled 623.5 billion euros (approximately $711 billion), with 305.4 billion euros ($348 billion) directed to non-EU countries—a record high, reflecting a 1.2 percent increase compared to the previous year. This growth was accompanied by a significant increase in the trade surplus, which reached 54.9 billion euros ($62.6 billion), a 61 percent rise, driven by reduced imports and a decrease in the energy deficit. The Italian government has set an ambitious goal of achieving 700 billion euros ($799 billion) in exports by the end of the current legislative term in 2027.
Italy’s exports to non-EU countries have seen remarkable growth, with key markets showing strong demand for Italian goods. With regards to Southeast Asian countries, its trade grew, totaling 10.7 billion euros ($12.2 billion) in 2024, a 10.3 percent increase. Among ASEAN nations, Vietnam led with 1.5 billion euros ($1.7 billion) in imports, reflecting a 25.8 percent growth, while Indonesia imported 1.2 billion euros ($1.4 billion) despite a 9.9 percent decline.
The Philippines, meanwhile, recorded 0.9 billion euros ($1 billion) in Italian imports, marking a 10.4 percent increase, highlighting the country’s growing demand for Italian goods. Importantly, this growth indicates an opportunity for more robust collaborations between Italian exporters and Filipino industries—leveraging local talents and fostering bilateral exchange.
As an Italian who has been living in the Philippines for more than 15 years, I am excited to see my second home included among the high-potential markets in Italy’s export strategy through this Action Plan.
For the first time, my home country has formally highlighted the Philippines alongside Thailand, Vietnam, and Indonesia as part of its priority markets in ASEAN. This recognition presents a significant opportunity for both countries, as increased trade activity will stimulate investment in recipient countries through the establishment of offices, business hubs, and strengthened economic ties. On a cultural level, both nations share a deep appreciation for craftsmanship, creativity, and family values—traits that underpin successful business partnerships and allow us to build lasting connections.
Indeed, Italy and the Philippines share a robust and longstanding trade relationship. According to the latest Observatory of Economic Complexity (OEC) report, in February 2025 alone, the Philippines exported $16 million dollars (14.1 million euros) worth of goods to Italy, marking a 39.2 percent increase compared to February 2024, when exports stood at $11.5 million (10.1 million euros). This growth was driven by key products such as jewelry, processed fish, and trunks and cases. However, imports from Italy decreased slightly, amounting to $91 million (80.1 million euros) in February 2025, down by 2.73 percent from $93.5 million (82.3 million euros) in February 2024. Despite this growth in exports, the trade balance remains negative, with a deficit of $74.9 million (65.9 million euros) for the Philippines. Over the past five years, trade between the two nations has decreased at an annualized rate of 2.7 percent, highlighting the need for revitalized efforts to strengthen this relationship.
The ICCPI plays a critical role in strengthening these ties and advancing the goals of the Action Plan for Italian Exports. And I am only glad that the ICCPI leadership led by its president Sergio Boero and executive director Lorens Ziller have thrown the organization’s all-out support behind the Italian government’s initiative.
By organizing business networking events, trade fairs, and business-to-business meetings, ICCPI connects Italian companies with Filipino counterparts, fostering collaborations that create mutual benefits. The group also advocates for the interests of Italian businesses in the country by promoting “Made in Italy” products and supporting Italian exporters in navigating the local market. Their efforts to facilitate investments and create opportunities align seamlessly with Italy’s broader strategy under the Action Plan.
By bridging Italian design with Philippine expertise, IDC also plays an active role in advancing commercial, economic and cultural collaboration between our two nations.
#PropertyPR
#MediaRelease
