(VOVworld) - The Prime Minister has approved a draft cooperation agreement on mutual administrative assistance in customs between the governments of Vietnam and Italy. The PM authorizes the Finance Ministry to sign the agreement. Italy is currently Vietnam’s 18^th largest export market and 15^th biggest import market. Two-way trade topped 4 billion USD in 2014, of which 2.7 billion USD came from Vietnam’s exports.

As of March, Italian investors had 64 projects in Vietnam worth approximately 386 million USD, ranking Italy 28^th out of 101 nations and territories invested in Vietnam.

The agreement is expected to improve the effectiveness of collaboration between the two governments, while creating favourable conditions for their customs agencies to exchange information and technical assistance and detect and address any violations of customs regulations.