Thank you, President Yoon. 

Let me also express my gratitude to President Biden for the invitation to this second edition of the Summit for Democracy. 

This meaningful initiative is a great opportunity for our democracies to work together to face the unprecedented challenges and new threats that the pandemic first, and Russia’s brutal aggression against Ukraine afterwards, have posed to our democratic institutions. 

We all believe in democratic values and also in the deliverables of democracy, two of which are the focus of today’s session: economic growth and shared prosperity. 

Since ancient times, people have discussed the connection between the form of political organization they choose for their community, and the impact that choice had on the economic system of that community. Democracy and economic development are interdependent. Democracy influences a nation’s economic and human development. And economic development can affect democratisation processes. 

Only a democratic system can ensure the essential conditions for triggering sustainable growth, taking action in the areas most able to produce positive effects and guarantee the best conditions for development. I am referring to justice, equity, legality, the correct functioning of the free market and the need to ensure that institutions are stable, fast and efficient. Having more stable and efficient institutions means being able to enjoy greater reliability at international level and managing to focus energies on major strategic and long-term objectives. This is precisely the direction my Government is working in. In fact, we are firmly convinced that Italy’s democracy can become even stronger and more solid through a presidential reform of the State. A reform that I consider to be fundamental and that may also represent a powerful measure for economic development. 

A democratic system guarantees free private initiative, protects jobs and allows all citizens to participate in the definition of policy guidelines and to contribute to, and benefit from, the nation’s social and economic growth. In a democratic system, economic growth must be matched by an increase in general well-being and an appropriate distribution of the resulting benefits. 

Economic development, and improved well-being, influence the democratic process and can trigger democratisation processes. The more intense the growth, the more an adequate level of social and economic development is achieved, and more likely a population will choose the path of democracy. Democracy delivers economic growth and shared prosperity, but also economic growth and shared prosperity deliver democracy.

This is also why the Italian Government is pursuing the ‘Mattei Plan for Africa’, a non-predatory cooperation model to create value chains close by, and to help African nations to live well off the resources available to them. 

Italy is committed to making its contribution in terms of investments and sharing its deep expertise in the food security sector. In this regard, I am happy to announce that from July 24 to 26 we will host in Rome the "Stock Taking Moment" Food Systems Summit. We attach great importance to this event also considering the role that the Roman hub of the United Nations will be able to play. The summit will be a starting point to define a common strategy, together with the United Nations and the European Union. 

We need to support those Nations that have not yet reached our level of economic development.
Solidarity is a fundamental democratic value, also to demonstrate that West is NOT against the rest!  In this regard, Italy wants to do its part and we will continue to pursue these principles during our next G7 Presidency. 

I believe that democracies can reach better results according to our principles and respecting our values. It takes time, but it is worth it and together I’m sure we can absolutely make it. 

Thank you!