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6th Italy-Vietnam Joint Economic Committee



6th Italy-Vietnam Joint Economic Committee

Today, Deputy Minister Manlio Di Stefano has co-chaired, with Vietnamese Deputy Minister of Industry and Trade Dang Hoang An, the 6th Italy-Vietnam Joint Economic Committee (JEC), in virtual format, due to the ongoing Covid-19 pandemic.

At the virtual meeting, which has been attended remotely by numerous state administrations, trade associations and businesses, the participants have taken stock of the bilateral economic relations between the two Countries (4.4 billion euros of trade in 2019), which are dynamic and full of potential despite the worsening economic situation due to the pandemic.

“Building a better future is possible if we continue to work together. There is one lesson we have learned very clearly in recent months: no country can win global challenges alone." Mr. Di Stefano has said.

The Joint Committee meeting has been an opportunity to focus on the key dossiers of common interest, such as the need to support and boost exports in the post-pandemic world, direct foreign investments in the industrial, environmental and energy sectors, the need for infrastructure development in Vietnam, joint science and technology projects, and the new opportunities following the entry into force of the Free Trade Agreement between the European Union and Vietnam, signed last August.

“Since 2013 – the Deputy Minister has continued – Vietnam has been our leading trade partner in the Southeast Asia region and the 10th destination market for our exports in the Asia-Pacific area. Within Europe, Italy is the second exporting country to Vietnam and bilateral trade has risen, in five years, from 2.9 to 4.4 billion euros. Italian companies are able to offer their Vietnamese partners world-class know-how in a broad range of industries, from energy to waste treatment, from the production of high-end consumer goods to pharmaceuticals and agro-industrial products, as well as transport and infrastructure.”

Finally, the Deputy Minister has congratulated his Vietnamese counterpart on the great achievements of Vietnam's ASEAN Chairmanship, while thanking him for Hanoi's support to Italy's successful bid as an ASEAN Development Partner.

The forthcoming signing of a MoU between the ICE-Italian Trade Agency and the Vietnam Chamber of Commerce and Industry has also been announced, with the aim of promoting and facilitating exchanges and direct contacts between companies from the two Countries.”

The minutes of the Joint Economic Committee are available here.