Eleven Italian businesses operating in machinery manufacturing will display their products at the Machine Tools and Metal Exhibition-Conference in Ho Chi Minh City from July 5-8.

The businesses come to Vietnam on a fact-finding tour organised by the Italian Trade Commission (ICE) in Ho Chi Minh City and the Association of Italian Manufacturers of Machine and Tool (UNIMU).

ICE Head Marco Saladini said Italian machinery products make up 4 percent in the Vietnamese market and the figure has stayed stable over the past three years.

According to ICE, as one of the markets in Asia recording the fastest growth rate, Vietnam ’s imports of Italian machines and tools increased by 350 percent in 2010.

The two countries’ trade ties saw a rosy development over the past several years. In 2010, Italian exports to Vietnam rose by 21.2 percent to 548 million EUR while Vietnamese exports to Italy were 890 million EUR, up 26.8 percent, ICE said./.