09:25 | 05/06/2019 MUTRAP Corner
The European Union - Vietnam Free Trade Agreement (EVFTA) will open up opportunities for Italian firms, especially- small and medium-sized ones, heard recent bilateral economic and trade promotion seminars held in Parma and Piacenza cities, the Italian northern region of Emilia - Romagna.
|The economic and trade promotion seminar between Vietnam and Italy held in Parma - Photo: VNA|
The events, held late last month, attracted representatives of industry federations of the two cities and from firms operating in food, cosmetics and logistics.
Speaking at the events, Vietnamese Ambassador to Italy Nguyen Thi Bich Hue introduced Vietnam’s potential for businesses. She pledged that the Vietnamese Government will help Italian companies do business in Vietnam.
Delegates hailed the Vietnamese market with a population of nearly 100 million people, rising consumption, average annual economic growth of 6%, and quality and low-cost workforce.
Once the EVFTA takes effect, it will remove 99% of tariff lines, thus benefiting Italian enterprises and positively impacting bilateral trade and investment ties, they said. They suggested Vietnam serve as a bridge for European and Italian goods to enter other ASEAN markets.
Representatives from the Vietnam Trade Office answered questions raised by participants.
While in the two cities, the Vietnamese delegation had working sessions with local authorities and visited several firms operating in Vietnam such as Davines, Cosmoproject and Piacentina.
Currently, the relationship between Binh Duong and Emilia - Romagna region is considered a model of Vietnam - Italy inter-regional cooperation. With contributions by Parma and Piacenza, Emilia - Romagna region accounts for more than half of Italy’s exports to Vietnam.