The landscape of global exports is rapidly evolving as nations set ambitious goals and strategies to enhance their positions in international trade. Italy stands at the forefront, with the Italian government aiming to achieve a €700 billion trade surplus by 2027, increasing from the current €650 billion. This target is central to the "Action Plan for Export in Non-EU Markets with High Potential," which is set to be presented by the Ministry of Foreign Affairs on March 21, 2025.
This strategic initiative, as reported by MF-Milano Finanza, proposes a thorough cross-sector promotional drive that encompasses all priority export areas. The plan has been jointly developed by key entities, including the Ministry of Foreign Affairs, ICE (Italy's trade and investment promotion agency), Simest (which supports Italian exports and investments abroad), SACE (the state export credit agency), and Cassa Depositi e Prestiti (Italy's state investment bank).
Exports have been a pivotal element of Italy's economy, significantly contributing to its ascent as the fourth-largest exporter worldwide in 2024. Notably, Italian exports to Africa surged past €20 billion, while regions such as the Western Balkans and Southeast Asia saw growth rates of 13.4% and 10.3%, respectively, compared to the previous year. Conversely, imports from the United States have declined by 3.6%, indicating shifting trade dynamics influenced by geopolitical tensions and tariff uncertainties.
Interestingly, emerging non-EU markets have shown remarkable growth in Italian exports, with Turkey leading the way at a 23.9% increase to €17.6 billion and Saudi Arabia following closely with a 27.9% rise to €6.2 billion. Further, exports to the United Arab Emirates and Mexico reached €7.9 billion (an increase of 19.4%) and €6.6 billion (up by 7.4%) respectively. However, the export landscape to China has shifted dramatically, with a sharp 20% drop in 2023, amounting to €15.3 billion and representing just 2.5% of Italy’s total trade.
The Ministry of Foreign Affairs identifies key sectors for Italian companies, including machinery and advanced mechanics, agro-food products, transport and sustainable mobility, and chemical products. The action plan emphasizes a coordinated effort across Italian trade agencies to facilitate international dialogue and collaborations while enhancing trade fair activities and cultivating relationships with significant retail and e-commerce entities to bolster market entry.
Meanwhile, in Canada, Alberta's Premier Danielle Smith has emphasized her opposition to any constraints on oil and gas exports to the United States during her inaugural meeting with Prime Minister Mark Carney. Smith criticized the Liberal government's approach as the country braces for upcoming elections, reiterating that she will not endorse any export taxes or restrictions on Alberta's vital energy sector.
In her statement, Smith noted, "Our province is no longer agreeable to subsidizing other large provinces who are fully capable of funding themselves." She also presented a series of demands to Carney, including the establishment of oil and gas corridors in multiple directions, a repeal of pipeline hindering legislation, and the removal of the tanker ban off British Columbia's coast.
Additionally, she is advocating for the termination of an emissions cap on the oil and gas industry, regulatory modifications concerning clean energy, a federal ban on single-use plastics, and adjustments to a net-zero vehicle mandate. Smith insists that prompt government actions are crucial to prevent a potential national unity crisis, emphasizing the need for provincial oversight regarding the carbon tax and the cessation of federal restrictions on energy companies.
In response, Carney acknowledged the necessity of large-scale energy projects, particularly those based in Alberta, while stressing the importance of searching for new energy customers in Europe and beyond. He underlined the potential development of new export routes through the northern regions, creating fresh opportunities for the province's energy sector.
Meanwhile, the United States continues to expand its LNG export capabilities. Secretary of Energy Chris Wright has authorized the Venture Global CP2 LNG project in Cameron Parish, Louisiana, allowing it to export up to 3.96 billion cubic feet of LNG per day to non-free trade agreement countries through 2050. Secretary Wright remarked, "The benefits of expanding US LNG exports have never been more clear, and I am proud to be taking action to support the American people and our allies abroad with more affordable, reliable, secure American energy." This marks the fifth LNG-related approval from the Department of Energy since the commencement of the Trump administration.
As the CP2 project advances, it is anticipated that the Department of Energy will issue a final order in the coming months, underscoring the growing significance of LNG exports in enhancing U.S. economic stability and bolstering energy security for global allies.
Across the Atlantic, the UK is also making strides in fostering international export relations. The British firm Dints recently secured a £12.5 million contract as a supplier to the infrastructure and renewable energy operations of the Portuguese contractor MCA in Angola. Thanks to a loan guarantee from UK Export Finance (UKEF) to Apple Bank, MCA can finance this project, ultimately enhancing opportunities for UK manufacturers.
As a project integrator, Dints combines various stakeholders to support infrastructure developments in Angola. Recent engagements have facilitated over £21 million in UK exports to diverse markets, including Peru and Botswana. Gareth Thomas, the Minister for Exports, noted, "This deal opens a wealth of opportunities for UK businesses, helping to increase exports, boost jobs and grow the economy. As part of our Plan for Change, we are firmly backing businesses to export around the world and reach new markets, and this deal is a shining example of just that."
Ultimately, the collective efforts of Italy, Canada, the US, and the UK illustrate a concerted push towards enhanced global trade dynamics. As countries seek to secure their positions in the international market, the strategies and challenges they face will continue to shape the future of global exports and influence economic relations worldwide.
