Italy and Vietnam strengthen ties

In recent days, Undersecretary Maria Tripodi has co-chaired the 8th Mixed Economic Commission between Rome and Hanoi

High-level diplomatic exchanges between Italy and Vietnam continue, in a particularly important year also at a symbolic level for bilateral relations, which in 2023 celebrate their first 50 (fruitful) years. On 25 October, in fact, Undersecretary Maria Tripodi co-chaired the Farnesina, together with the Deputy Minister of Industry and Trade of Vietnam Nguyen Sinh Nhat Tan, the VIII Mixed Economic Commission, in the presence of ministries and representatives of the private sector. This year’s edition takes place in a very positive and constantly growing phase of collaboration with Vietnam, key partners in the Indo-Pacific region and in the ASEAN area. This year is not only the 50th anniversary of diplomatic relations, but also the tenth anniversary of the strategic partnership between Italy and Vietnam. The work allowed to renew the commitment to strengthen the already excellent relations between the two countries, also in the light of the success of the state visit to Italy of the President of Vietnam, Vo Van Thuong, last July. Particular attention was given to the main sectors of common interest, including: trade and investment, industry, energy, environment, infrastructure, health, agriculture, science and technology, culture and tourism. Undersecretary Tripodi and Deputy Minister Tan have met next year in Hanoi for the IX edition of the Joint Economic Commission. The meeting was preceded by a brief bilateral meeting in which the opportunity was taken to promote Rome’s candidacy for EXPO2030. Italy and Vietnam are experiencing steady growth in bilateral trade. In 2022 there were 6.2 billion dollars of interchange, an increase of 11% compared to the previous year, with Vietnam which is currently the first trading partner of Italy in the ASEAN region, while Italy is one of Vietnam’s main partners in Europe. In the specific one, the exports of Vietnam towards Italy last year were at 4,4 billion dollars, an increase of 14% regarding the year precedence, and its imports from Italy were at 1,7 billion dollars, an increase of 3.6%. To date, Italy also occupies 33 places out of 143 countries and territories that invest directly in Vietnam, while Vietnam is one of the ten main destinations of Italian investment among developing countries. The bond seems destined only to strengthen.