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Italy is a beautiful European country with a rich culture, history, and economy. The country`s trade industry is one of the major contributors to its economic growth, making it an important player in the global market. Italy`s trade policy is characterized by its participation in several regional and international trade agreements, which are aimed at boosting its economic activity and promoting fair competition.

Here is a closer look at some of the trade agreements that Italy has with other countries:

1. European Union

Italy is a member of the European Union (EU), which is a political and economic union of 27 member states in Europe. The EU represents one of the most significant trading blocs globally, with a market of over 450 million consumers. Italy`s membership in the EU allows it to trade freely with other member states without customs duties, quotas, or tariffs. The EU also enables Italy to negotiate and sign trade agreements with non-member countries on behalf of its members.

2. United States

Italy has a strong trade relationship with the United States, which is its second largest trading partner outside the EU. In 2019, Italy`s exports to the U.S. totaled around $53.4 billion, while its imports from the U.S. were around $24.5 billion. The two countries have signed several trade agreements, including the U.S.-Italy Trade Agreement, which eliminated tariffs on various goods and services and improved the protection of intellectual property rights.

3. Canada

Italy also has a trade relationship with Canada, which is its ninth-largest trading partner. In 2019, Italy`s imports from Canada were around $3.7 billion, while its exports to Canada were around $2.5 billion. The two countries have a bilateral investment treaty that aims to protect and promote foreign investment in both countries.

4. Japan

Italy has also signed a bilateral investment treaty with Japan, which aims to promote and protect foreign investment in both countries. In 2019, Italy`s exports to Japan were around $5.7 billion, while its imports from Japan were around $4.6 billion. The two countries have also signed several additional agreements, including the Japan-EU Economic Partnership Agreement, which liberalized trade between Japan and the EU, of which Italy is a member state.

5. China

Lastly, Italy has a growing trade relationship with China, which is its largest trading partner outside the EU. In 2019, Italy`s imports from China were around $30.3 billion, while its exports to China were around $11.7 billion. The two countries have signed several agreements, including the Italy-China Comprehensive Strategic Partnership, which aims to enhance cooperation and collaboration in various areas, including trade.

In conclusion, Italy`s involvement in different regional and international trade agreements has contributed significantly to its economic growth and competitiveness in the global market. These agreements have helped to eliminate trade barriers and promote fair competition among countries. As Italy continues to engage in international trade, it is expected to foster more relationships with other countries in the future, leading to even greater economic gains.

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