Italian firms learn about Vietnam’s market potential

 

Rome (VNA) – Italy will benefit most from the EU-Vietnam free trade agreement (EVFTA), former Italian Prime Minister Enrico Letta commented at a seminar held recently in the northern Italian city of Milan. 

He suggested Italian firms change their business approach by not only focusing on manufacture in Vietnam for export to Europe but also gearing towards consumption in the country. 

Sharing the same view, President of the Lombardy Industrial Federation (Assolombarda) Gianfelice Rocca said the EVFTA will bring many benefits to Italian businesses in both Vietnamese and ASEAN markets. 

Meanwhile, member of the EU negotiating delegation Raffaele Petriccione said the agreement is a new-generation deal which offers more comprehensive terms with a higher degree of liberalisation in comparison to the World Trade Organisation deal. 

Apart from building necessary legal frameworks for trade and investment, Italian companies should travel more to Vietnam to learn more about the market and their partners, he said. 

Vietnamese Ambassador to Italy Cao Chinh Thien, for his part, said Vietnam is hailed as an attractive business destination and a trustworthy trade partner, which will make it easier for Vietnamese and Italian firms to do business. 

In an interview granted to Vietnam News Agency, former Italian PM Enrico Letta praised Vietnam as a promising market on the back of its political stability, young population, abundant and quality workforce, which present a good chance for Vietnamese and Italian entrepreneurs to forge partnerships. 

The seminar attracted over 50 leading companies from northwestern Italy./.