Hanoi (VNA) – Head of the Communist Party of Vietnam Central Committee’s Commission for External Relations Hoang Binh Quan on July 17 sent a message of congratulations to Mauro Alboresi on his re-election as General Secretary of the Italian Communist Party.

Vietnam and Italy set up diplomatic relations in 1973.

Italy is currently the fourth biggest trade partner of Vietnam in the European Union while Vietnam is the biggest trade partner of Italy in the Association of Southeast Asian Nations (ASEAN).

Over the past five years, two-way trade neared 5 billion USD each year. Within 10 years, from the fourth place, Vietnam has become the largest ASEAN trade partner of Italy.

Both sides are working to lift two-way trade to 6 billion USD for 2017-2018. Vietnam mainly exports footwear, aquatic products, coffee and apparel to Italy and imports mechanical machinery, transportation vehicles and leather materials. 

As of February 2018, Italy ranked 31st out of the 128 countries and territories investing in Vietnam with 88 projects worth more than 388 million USD. The Italian government has added Vietnam into its list of 10 emerging markets prioritised for trade and investment ties.-VNA