MILAN, Jun 5 (Class Editori) - Italy and Vietnam aim to increase bilateral trade up to 10 billion dollars. The goal of doubling trade between the two countries was one of the points at the center of Prime Minister Giuseppe Conte's visit, received in Hanoi by Vietnamese Prime Minister Nguyen Xuan Phuc. "Vietnam has a young and vital internal market and Made in Italy is the natural response to the new needs of the population," explained Conte. The meeting, organized by the Associazione Italia-Asean and by The European House - Ambrosetti, will also be an opportunity to present the latest study by the association chaired by Enrico Letta dedicated to the 'successful laboratory', represented by Italian companies in the South Country East Asia.
More generally, the appointment will serve to take stock of the opportunities for collaboration offered by the 10 South-East Asian countries united in the ASEAN, whose cumulative additional GDP to 2024 will amount to over 1,500 billion dollars. Conte reiterated that Italy is working to strengthen relations between the European Union, the countries of the region and Vietnam also in the framework of the free trade agreement currently being negotiated. After the free trade agreements with South Korea, Japan and Singapore, Brussels wants to rebalance its commercial presence in East Asia.
As reported by Nomura, Vietnam is currently the country that has most benefited from the ongoing commercial clash between the United States and China and from the reorganization of flows, with about 7.9% of its gross GDP linked to its new business. as a result of the tensions between the first two economies in the world. Vietnam is followed by Taiwan (2.1% of GDP), Chile (1.5%), Malaysia (1.3%) and Argentina (1.2%).
"I am very pleased that Prime Minister Giuseppe Conte has decided to come to Hanoi to meet with ASEAN, together with hundreds of Italian companies, including Ferrari (which will bring a single-seater)." This initiative goes beyond partisan divisions and looks at the interest of the Country System," explained Enrico Letta a few days ago, during the press conference in which the work of the 2019 scientific committee of the Merloni Foundation was presented.
"These dynamics look to the East without any contradiction with our atlantism and our belonging to the West. I think that the majority of European states will follow the Italian line. At a time when Trump wants to apply duties on the European Union, the European Union must look for its markets," added the former prime minister.
"If we think in an economic and commercial perspective, Vietnam is an increasingly important market for Italy because thanks to the lively economic growth it is now our first commercial partner in South East Asia," added Conte. Exports have grown and we are now the second country among the European suppliers of Vietnam. "Many of our companies have made successful investments here that are widely met and many others look to this market with interest as a production and commercial base and then expand into the Southeast Asian quadrant," he concluded. Conte recalled that today the interchange has reached 4.4 billion dollars and that Italy aims to raise the bar to 6 billion and then go up to the 10 billion target.
(Source:Class Editori)
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