EVFTA to fuel Vietnam – Italy trade: workshop25/03/2019
A workshop held recently in Perugia, Italy, discussed opportunities for business investments between Vietnamese and Italian firms once the EU-Vietnam Free Trade Agreement (EVFTA) come into effect.
At the event, Trade Counsellor of the Vietnamese Embassy in Italy Nguyen Duc Thanh introduced Vietnam’s current situation of high economic growth, stable politics, abundant human resources, and open investment attraction policy.
Michele Fioroni, deputy mayor of Perugia, said Vietnam’s economic scale, features and strategic location in the Association of Southeast Asian Nations and in the region is drawing attention of Italian businesses.
Advantages brought about by the EVFTA and Italian production strengths will give local companies numerous opportunities to exploit the Vietnamese market, he said, urging the group to speed up market studies, investment promotion and product advertisement to capitalize on such benefits.
Walter Cavrenghi, General Secretary of the Italy-Vietnam chamber of commerce, considered the EVFTA a win-win deal.
The official said Italian investors came to Vietnam late compared to other European peers, and advised Italian firms to prioritise trade-investment promotion and cooperation with Vietnam’s small- and medium-sized enterprises.
Alessandra Cursio, who oversees external relations at the chamber, said if signed, the pact will be the most ambitious and comprehensive FTA between the EU and a developing country.
With 99 percent of tariff lines removed, Italy will benefit from exporting machines, leather, medicines, chemicals, garment-textile and food products to Vietnam, she added.
Concluding the workshop, participants, who included Italian enterprises eyeing the Vietnamese market, agreed on the importance of the EVFTA to both the bloc and Vietnam, hoping EU member countries to soon sign and ratify the pact.
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