TRADE AND TOURISM
Trade relations between Italy and the Czech Republic maintain an excellent trend, with trade interchange continuing to set record figures, albeit slightly down from the trend of the past decade. The current trend continues to be positive: in 2023 the total interchange stood at 18 billion euros, with renewed prospects for growth in 2024. We are the 6th customer and supplier country of the Czech Republic, but it should be noted that in absolute values Italy exports more to the Czech Republic than to countries such as Brazil, Japan, India and Canada.
In 2024 foreign trade with Italy partly reflects the overall performance of the Czech economy, which due to weakening domestic demand sees a decline in imports. On the other hand, the results for Italian exports of machinery and equipment are excellent, growing in double digits. In addition to industry and agribusiness, cooperation between the Czech Republic and Italy continues to strengthen in highly innovative sectors such as space research, aviation, nanotechnology and transport infrastructure, as well as in education, science and research.
Made in Italy
An important Italian business community is active in Czechia: an estimated 3.000 companies of varying sizes, many of them members of the dynamic Italian-Czech Chamber of Commerce and Industry. More than 400 enterprises operate in wholesale and retail trade, manufacturing and services. In the industrial sector there are large groups with significant production facilities: prominent among them are the role of Brembo, Beghelli, Brazzale, Brembo, Iveco, Mattoni 1873 (the largest producer of mineral and spring water in the Czech Republic and a leading company in the soft drink market in Central Europe), Mapei, Nova Mosilana (woolen fabric production of the Marzotto group), SIAD and SAB Aerospace (a leading company in the space industry), which operate with relevant added values in the field of innovation and eco-sustainability, with excellent market feedback. Banca Intesa, Ferrero, Generali, Unicredit are present and particularly active. While hundreds of Czech companies operate in the Italian market and are successful in different areas, such as aerospace, green energy, digital, agriculture and information technology.
Positive news also comes from the tourism sector, with Italy confirmed as one of the favorite destinations for Czech summer tourism in 2023 as well, according to Foreign Ministry data. According to Černín Palace, Italy is the third favorite destination for Czechs to spend their vacations abroad. Some 470.000 Czechs visited the Peninsula’s art cities, beaches and mountains in the summer months of 2023. Greece, in second place, recorded 640.000 admissions from the Czech Republic, and Croatia, traditionally a favorite summer vacation destination for Czechs, 800.000.
Detailed information for businesses is available on the portal http://www.infomercatiesteri.it, while the focus dedicated to the Czech Republic is constantly updated at the following link: https://www.infomercatiesteri.it/paese.php?id_paesi=86#
Italian companies can contact the Embassy’s commercial office using the “NEXUS” portal, the customer relationship management application prepared by the Ministry of Foreign Affairs and International Cooperation: https://nexus.esteri.it/
Economic Observatory: summary sheet on the Czech Republic
https://www.infomercatiesteri.it/public/osservatorio/schede-sintesi/repubblica-ceca_86.pdf
FAQ on assistance to Italian companies abroad: FAQ
infoForeign Markets
infoMercatiEsteri is an innovative and completely free platform, designed and created by the General Directorate for the Promotion of the Country System – Office I of the Ministry of Foreign Affairs (MAECI), to meet the demand for information on foreign markets coming from domestic economic operators. Thanks to the constant analytical work of the Embassies and Consulates, with the collaboration of the ICE Agency Units integrated in them, and the contributions of ENIT and the Italian Chambers of Commerce abroad, infoMercatiEsteri makes available to the Italian production system a tool full of useful information for internationalization choices. By choosing the geographical access path, for each country it is possible to obtain information on:
– economic and political outlook;
– market opportunities and partnership possibilities with local and/or Italian companies;
– upcoming promotional initiatives;
– trade barriers, investment criticalities and possible risks;
– access to credit;
– overview of the Italian presence and bilateral relations.
Alternatively, by choosing the sectoral access method, it is possible to acquire information on the chosen sector, as well as suggestions on the countries of priority interest in that sector according to customizable criteria relating to trade, investments, market characteristics and reports from offices abroad.
ICE – ITA Italian Trade Agency
The ICE-Agency for the promotion abroad and the internationalization of Italian companies is the body through which the Government promotes the consolidation and economic-commercial development of our companies on foreign markets. It also acts as the body responsible for promoting the attraction of foreign investments in Italy. With a dynamic, motivated and modern organization and a widespread network of offices abroad, ICE carries out information, assistance, consultancy, promotion and training activities for small and medium-sized Italian businesses. Thanks to the use of the most modern multi-channel promotion and communication tools, it acts to affirm the excellence of Made in Italy in the world. Detailed information for companies is available on the portal https://www.ice.it/it/chi-siamo
ICE – ITA Italian Trade Agency – (Correspondence Point for the Czech Republic)
Contact: Agáta Cacciotti
Italian Embassy in Prague
Nerudova 214/20, 118 00 – Prague 1
Tel.: +420 220 560 799
E-mail: praga@ice.it
Web: https://www.ice.it/it/mercati/repubblica-ceca
Italian-Czech Chamber of Commerce and Industry
The Italian-Czech Chamber of Commerce and Mixed Industry (CAMIC) was founded in Prague in 2001 and quickly brought together a significant number of members, in particular Italian entrepreneurs operating in the Czech market. In 2003 it was recognized as an Italian Chamber of Commerce Abroad by the Italian Government (L.518 of 1 July 1970) and by the Czech Ministry of Industry and Trade (Law N.42/1980 Coll.). Today it is among the main foreign Chambers of Commerce in the Czech Republic, with its main office in the heart of Prague, in the prestigious Trauttmannsdorf Palace, with a secondary office in Brno, in the BVV exhibition center, at the Honorary Consulate of Italy.
Website: https://www.camic.cz/en/
Organization and staff: https://www.camic.cz/en/organization/staff/
Market development contacts https://www.camic.cz/en/market-development/
Czech Invest
The CzechInvest agency plays a key role in the field of business and investment support in the Czech Republic. The integrated combination of regional, central and international operations ensures a connection between global trends and the best regional conditions. One of the goals of CzechInvest is to transform the Czech Republic into an innovation leader in Europe. CzechInvest, founded in 1992, is a state-funded organization subordinated to the Ministry of Industry and Trade of the Czech Republic.
Activities of CzechInvest:
– support to the potential of Czech technology companies;
– support of so-called “smart” investments;
– motivation of foreign investors active in the Czech Republic to make sophisticated complementary investments;
– support to start-ups and spin-offs;
– assisting Czech companies in entering foreign markets;
– promoting the Czech economy, technology and research also in the foreign markets
– connecting partners in the fields of business, research and development all over the world.
GALLERY:
1- INFOMERCATIESTERI
2- ICE AGENZIA
3- CAMIC
4- CZECH INVEST
