Room remains for Vietnam's exports to Italy

Published 2021년 8월 28일

Tridge summary

The Vietnamese Trade Office in Italy is optimistic about the potential for Vietnamese enterprises to increase their exports of farm produce, such as rice and seafood, to Italy. This comes as Vietnam and Italy enjoy a growing bilateral trade relationship, with the EVFTA leading to a 22.8% increase in Vietnamese exports to Italy in the 11 months following its implementation. However, Vietnamese businesses face challenges such as strict EU regulations and high competition from other exporting countries. The trade office advises Vietnamese businesses to understand the Italian market and compete effectively by offering high-quality products and reasonable prices.

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Original content

ABO/NDO- There remains room for Vietnamese enterprises to promote their exports of farm produce such as rice and seafood to Italy besides other export items, according to the Vietnamese Trade Office in Italy. Italy is currently Vietnam's fourth-largest trading partner in the EU behind only the Netherlands, Germany and France while Vietnam is Italy's largest trading partner in the ASEAN with bilateral trade turnover continuously increasing over the years, the office said. Over the 11 months since the EU-Vietnam Free Trade Agreement (EVFTA) officially took effect (from August 2020 to the end of June 2021), Vietnam's export turnover to Italy reached US$7.8 billion, up 22.8% over the same period before the effectiveness of the EVFTA (from August 2019 to the end of June 2020). In the first half of 2021 alone, two-way trade saw a yearly rise of 29.3% to hit US$2.29 billion. Of which, Vietnam exported US$1.5 billion worth of goods to Italy, up 32% over the same period last year while its ...

Source: Baoapbac