HA NOI (Biz Hub) — Viet Nam and Italy expect to reach 3.5 billion euros (US$4.4 billion) in trade turnover this year, Italian Ambassador to Viet Nam Lorenzo Angeloni said yesterday in Ha Noi while announcing that an Italian mission would visit Viet Nam to boost economic relations.

Official discussions will be held under the Strategic Partnership agreement signed by the Italian and Vietnamese governments. Additionally, a forum will give Italian companies the chance to meet with potential Vietnamese partners.

The delegation will begin its work on November 24 in Ha Noi, with a morning press conference followed by a full day of B2B meetings. A joint commission between Italy and Viet Nam will take place the following day. The business delegation will take part in seminars on the mechanics, medical and biomedical, energy and renewable energy and infrastructure and transportation sectors.

Viet Nam and Italy established diplomatic ties in 1973. Italy was the first Western European country to encourage co-operation between Viet Nam and Europe; today, the country is Viet Nam's leading EU trade partner. Two-way trade reached $2.8 billion in 2012, a yearly increase of 10 per cent.

The two countries currently co-operate in national defense, sports, education, training and scientific research. Many Italian companies have offices in Viet Nam, including 37 direct investment and joint venture firms. — VNS