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Why Italy Wants to Accelerate New Trade Routes — the Message From Trieste
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Why Italy wants to accelerate new trade routes — the message from Trieste
TRIESTE – The closure of the Strait of Hormuz — an Iranian response to the war unfolding on its territory involving Israel and the United States — has not only shaken global markets, starting with energy. According to Italy’s foreign minister, Antonio Tajani, speaking at the IMEC plenary session in Trieste, the crisis has also exposed the critical need to develop alternative routes to keep global geoeconomic supply chains moving. A common view. …
The tensions emerging in the Gulf and Strait of Hormuz clearly demonstrate the vulnerability of some of the main international trade routes. The ongoing crisis is already exerting strong inflationary pressure on the prices of gas, oil, and other strategic goods like fertilizers, which is impacting global food prices. As these transportation hubs become more exposed to geopolitical tensions, the immediate need to strengthen security and diversify…
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