Viet Nam, Italy look to optimise business opportunities

Tuesday, Sep 20, 2022 15:27

Vietnamese Ambassador to Italy Duong Hai Hung speaks to participants at the forum. — VNA/VNS Photo

Nearly 100 delegates representing Vietnamese and Italian organisations and businesses attended the Viet Nam-Italy trade promotion forum in Rome on September 19.

Vietnamese Ambassador to Italy Duong Hai Hung highlighted the strong growth of the Viet Nam-Italy strategic partnership in all fields, especially the economy.

He pointed to the four factors that ensure the future development of the ties, namely the sound traditional friendship and political determination of both sides, the stability and attractiveness of the Vietnamese economy, the legal framework promoting import-export and investment activities, and Viet Nam's advantages from free trade agreements.

The ambassador said he believes that the forum will help businesses of both sides foster their connections to optimise the unexploited cooperation potential for mutual benefits, and pledged to stay ready to support and accompany localities and enterprises of both sides to tap business and investment opportunities.

President of the Italian Trade Agency Carlo Ferro said that Viet Nam and Italy can still do more to promote economic and trade relations, building on previous successes in enabling businesses to meet and increase the exchange of goods, not only agricultural products and fashion but also many others such as industrial machinery and 4.0 technology.

Viet Nam is currently the largest trade partner of Italy among the ASEAN countries, with two-way trade reaching US$4.25 billion in the first eight months of 2022, up 13.9 per cent year on year. About 6,000 Italian firms are investing in Viet Nam.

Particularly, the Viet Nam-EU Free Trade Agreement (EVFTA), which eliminates import taxes for 99 per cent of tariff lines, has special meaning to bilateral ties when Italy and Viet Nam have opened their economies and relied heavily on exports.

Viet Nam is still a gateway for Italy to enter the 600-million-strong ASEAN market. — VNS

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