Vietnamese Ambassador to Italy Duong Hai Hung addresses the forum. (Photo: VNA)

Vietnamese Ambassador to Italy Duong Hai Hung applauded the strong growth recorded in the joint strategic partnership across multiple fields, especially in terms of the economy.

He assessed four factors that ensure the future development of mutual ties, including the sound traditional friendship and political determination that exists between both sides. This is along with the stability and attractiveness of the Vietnamese economy, the legal framework promoting import-export and investment activities, and Vietnamese advantages from free trade agreements.

Vietnam-Italy trade reached 4.25 billion USD in the first eight months of the year, up 14% on-year. At present roughly 6,000 Italian firms are currently investing in the Vietnamese market. The EU-Vietnam Free Trade Agreement (EVFTA), which eliminates import taxes for 99% of tariff lines, has special meaning for bilateral ties with Italy and Vietnam opening their economies and relying heavily on exports.

Building on the success of the Vietnam-Italy Trade Promotion Forum in Rome, the forum will continue to be held on Tuesday in Milan, Italy's largest economic centre. The event will thereby create opportunities for Vietnamese businesses to meet and hold exchanges with their leading counterparts in the Northern region of Italy.