Italy and Vietnam seek stronger economic and trade cooperation

Italy and Vietnam seek stronger economic and trade cooperation

Italy and Vietnam reaffirmed their commitment to deepening economic and trade ties at the 10th Italy-Vietnam Joint Economic Commission on April 14.

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As the main mechanism for bilateral dialogue on economic and trade issues, the commission was co-chaired by Undersecretary of Foreign Affairs Maria Tripodi, and Deputy Minister of Industry and Trade Phan Thi Thang.

During the session, considerable attention was paid to strengthening cooperation in the fields of trade, industry, and investment. The parties also reaffirmed their joint commitment to the energy transition and, in the agricultural sector, to continuing negotiations for the opening to new products and strengthening collaboration in areas such as agricultural mechanisation and food processing.

Trade between the two countries reached €6.7 billion ($7.9 billion) in 2025 (up 9.2 per cent compared to 2024), with Vietnam becoming Italy’s leading trading partner among ASEAN countries. Within the EU, Italy remains Vietnam’s third-largest trading partner.

Undersecretary Tripodi emphasised the importance of continuing along a path of balanced growth in trade. She reiterated the importance of protecting intellectual property and improving market access for Italian companies, also through constructive dialogue aimed at overcoming the problematic issues highlighted by certain sectors.

“The strategic partnership that unites us continues to prove an essential tool for fostering cooperation, supporting our companies, and responding to growing global challenges,” Tripodi said.

On the sidelines of the commission’s work, she also signed a memorandum on the Red River II project, funded by the Italian government with a €2.86 million ($3.37 million) soft loan. The scheme aims to improve the management of the Red River hydroelectric basin system through the development of a monitoring and decision-making support platform for energy. This objective will be pursued through new installations and the strengthening of existing equipment at multiple sites.

VIR