Vietnam, Italy to sign customs-related cooperation agreement hinh anh 1Illustrative image (Photo: VNA)
Hanoi (VNA) - The Prime Minister has approved the content of a draft cooperation agreement on mutual administrative assistance in customs between the Governments of Vietnam and Italy.

The PM authorizes the Finance Ministry leader to sign the agreement with Italy’s competent representative.

Italy is currently Vietnam’s 18th largest export market and 15th biggest import market. Two-way trade reached over 4 billion USD in 2014, of which 2.7 billion USD came from Vietnam’s exports.

As of March, Italian investors run 64 projects totaling 386.2 million USD, ranking 28th among 101 nations and territories investing in Vietnam.

Signing the agreement will improve the efficiency of collaboration between the two Governments, while creating favourable conditions for their customs agencies to exchange information and technical assistance, and detect and address any violations of customs regulations during the enforcement of State management on customs.-VNA