The session was co-chaired by Deputy Minister of Industry and Trade Phan Thi Thang and Italian Undersecretary of State for Foreign Affairs and International Cooperation Maria Tripodi. They agreed that the timing of the meeting – shortly after Vietnam successfully held its 14th National Party Congress and consolidated its government leadership and organizational structure – provided a favorable opportunity to define priorities and areas of cooperation aligned with Vietnam’s development orientation for the next five years, as well as Italy’s strategies and policies towards its partners amid an increasingly uncertain regional and global environment.
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Vietnamese Deputy Minister of Industry and Trade Phan Thi Thang (left) and Italian Undersecretary of State for Foreign Affairs and International Cooperation Maria Tripodi co-chair the 10th session of the countries’ joint committee on economic cooperation. (Photo: Ministry of Industry and Trade) |
At the session, the two sides reviewed and assessed cooperation across a wide range of sectors, including trade, energy, development cooperation, culture, sports and tourism, agriculture, industrial machinery, textiles, footwear, stone mining and locality-to-locality partnerships.
They also proposed and agreed on plans to further boost bilateral trade turnover, while maximizing the benefits of the EU-Vietnam Free Trade Agreement (EVFTA), with a view to elevating economic cooperation to a level commensurate with the potential of both countries and the evolving global landscape.
Thang stressed that the traditional friendship and cooperation between Vietnam and Italy continue to be strengthened and expanded. On that basis, their business communities have effectively leveraged opportunities provided by the EVFTA to sustain steady growth in bilateral trade, despite global market fluctuations.
Tripodi described Vietnam as an important strategic partner and one of Italy’s most dynamic markets in the Association of Southeast Asian Nations (ASEAN) region. She affirmed Italy’s commitment to enhancing cooperation with the country across all fields, particularly in green transition.
In practice, Italy is among the ten members of the International Partners Group (IPG) that, together with Vietnam, launched the Just Energy Transition Partnership (JETP) in 2022, and has pledged to mobilize approximately 500 million EUR over the next three to five years to support JETP projects. Recently, through Cassa Depositi e Prestiti, Italy became one of six financiers of the Bac Ai pumped-storage hydropower project, the first of its kind in Vietnam.
Tripodi also affirmed Italy’s support for the EU’s lifting of the “yellow card” imposed on Vietnam, recognizing the country’s effective measures to combat illegal, unreported and unregulated (IUU) fishing.
The launch of a direct air route between Vietnam and Milan from 2025 has facilitated travel for tourists, businesses and citizens of both sides, she added. Italy will also review procedures to make visa issuance more convenient for Vietnamese nationals, thereby promoting cultural, tourism and economic exchanges.
Both sides agreed to facilitate market access for key export products, and prioritize cooperation in investment attraction and technology transfer in emerging and strategic sectors such as new energy, renewable energy and automation, while continuing to strengthen existing cooperation in textiles, footwear, climate change response, electronics, culture and tourism.
At the conclusion of the session, the two sides signed the meeting minutes and agreed that the 11th edition will be held in Hanoi in next year.
Source: VNA