[In Italian, not translated]
I will repeat it in English.
Thank you. [Laughter]
[In Italian, not translated]
I was saying thank you for being here. First of all, thank you for having accepted my invitation. When I came to Washington, uh, I was proposing President Trump a meeting between the EU and the US. And I'm proud that after one month, uh, there is this, uh, initial meeting in which we can sit down and share our -- our points of view, trying to, uh, go on. We know how important is the relation between the EU and the US, uh, for a strong west for our civilization, also for our, uh, economic relations that worth 30 percent of the world exchange.
And so, I hope that this meeting can be a new beginning, let's say like that. And I was also saying that there are some topics which are competence of the commission. So, the role of Italy is mainly the work of the -- the role of trying to help a dialog, which I think is very important. Frank. Open. But knowing how important we are each -- for each other.
So, I stop here. Uh, vice president, please.
Great. Thank you, uh, Prime Minister Meloni, who's become a good friend of mine, and uh, we're -- I know -- I speak for the president when I say we're both big fans of yours and of course of Italy. Uh, the people of Italy have been most gracious, especially today, which was a beautiful ceremony.
And all credit goes to the Vatican, but of course, your government for making it possible for so many foreign leaders to come in and celebrate Pope Leo's inaugural mass. Of course, an American pope. Uh, the United States is very proud of him, very thrilled with him, and certainly our prayers go with him as he starts this very important work.
Uh, I'm looking forward to this conversation. I think uh, one of the things that Prime Minister Meloni has offered to do, and of course, the president and I are excited to accept, uh, is really to -- to -- to be a bridge builder I think in some ways between Europe and the United States. I have said repeatedly that I think Europe is an important ally of the United States.
The individual countries within Europe are important allies of the United States. But of course, we have some disagreements as friends sometimes do on issues like trade, and we also have many agreements and many things that we can work on together. And I'm looking forward to this conversation. So, I appreciate Prime Minister Meloni's hospitality.
I appreciate Commissioner von der Leyen being here and being willing to engage in this conversation. I think we'll have a great conversation and hopefully will be the beginning of some long-term trade negotiations and some long-term trade advantages between both Europe and the United States.
Yes, first of all, thank you very much to Giorgia for your hospitality, for having us here today, for enabling this trilateral. So, a wonderful day in the Vatican. Thank you very much for that. And Vice President, it's good to see you again. We've met in Paris. Now here in Rome. And as you said, we have a very special and close relationship.
If I may, look at trade indeed. We have the largest trade relationship in the world.
Sure.
With more than $1.5 trillion per year. Um, very much intertwined, so indeed it is important. Now, we have exchanged papers that our experts are deep diving, discussing the details. Everybody knows that the devil is in the detail, but what unites us is that at the end, we want to gather to have a good deal for both sides.
I would like also to raise the topic of Ukraine. What unites us is that we want a just and lasting peace.
Sure.
And I know how much you are engaged in ending this war, and I thank you for that. So, what is important now is certainly that we push that things are moving forward, and I think the next week will be crucial on that. And finally, perhaps an important topic between us also is the topic of defense.
And I know that the European member states have to step up the investment in defense. This is why as a commission we have enabled the use of up to 800 billion euros in the next four years for defense investment. Um, and this of course will strengthen the European Union, but we know what a strong Europe means always also a strong NATO. So, we will certainly take stock at the NATO summit.
But today, very glad to be here for this trilateral. And thank you very much again, Giorgia.
You're welcome. [In Italian, not translated] I was saying thanks to all the people that have been working this morning to allow the ceremony to be perfect.
[In Italian, not translated]
Thank you, all. Take care.
Thank you.