ACROSS THE SEA: The Italian Fashion Chamber and the American Chamber of Commerce in Italy signed a memorandum of understanding on Monday to promote and facilitate economic, commercial and political exchanges between Italy and the United States. In particular, this agreement aims to boost the international development of Italian companies in the U.S. and increase exports of Italian fashion products to North America.

“I’m very happy about this memorandum of understanding which will facilitate our associates’ relationships with companies operating in the United States, which is now such an important and flourishing market,” said Mario Boselli, president of the Italian Fashion Chamber.

This story first appeared in the March 18, 2015 issue of WWD. Subscribe Today.

According to Simone Crolla, chief executive officer of the American Chamber of Commerce in Italy, the U.S. is the third-most important market for Italian exports, after Germany and France. In 2014, Italian exports toward the United States totaled 1.8 million euros, or $2.2 million at average exchange rate.

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