Trieste wants a modern free trade zone

At a recent conference called Global Connectivity within the Mediterranean Basin, Ms Monassi called for the modernisation of the system to enable the port to take full advantage of future trade opportunities, increased traffic and more investment.

Ms Monassi, said: “The Trieste Free Trade area is one of the oldest in the world. For this reason, we asked the Italian government if the management of the free trade areas of the Port of Trieste could be accomplished according to the uses in force in other ports and free trade areas in the world – in other words according to article A (Annex VIII) of the Paris Peace Treaty of 1947.”

And the port is not alone with wanting modernisation. The Trieste Chamber of Commerce has been active for some time, encouraging companies from the Far East to set up their European base in the Port of Trieste.

At the conference most attendees agreed that a modernised free zone could not only be a strategic choice for Trieste, but for the whole country.

Senator Luigi Grillo, president of the Senate Committee on Transport, said at the conference: “The Free Port of Trieste must wager on the tax advantages that can turn it into a great attraction for the Upper Adriatic Sea port sector. The Upper Adriatic and the Upper Tyrrhenian can thus become true competitors of the ports of Rotterdam and Hamburg, for all the goods moving from the Far East towards Central Europe, including Germany and Bavaria.”

He addded that a decree for economic development to include both the financial autonomy of the ports and the exemption from tax of certain port areas to promote economic growth, has been requested.