Workshop puts focus on Italian market

Italy needs raw materials and energy and is importing them from Vietnamand other countries in Asia-Pacific besides its traditional suppliers in North Africa and the Middle East , a workshop heard on March 31.

“ Italy - Vietnam : Market Opportunities” was jointly organized by the Italian Trade Commission in Vietnam and the Intellectual Property Association of HCM City to discuss the potential of the Italian market for Vietnamese exporters.

“If Vietnam can improve the quality and value of their products, it can compete with other countries in exporting to the Italian market,” said Bui Vuong Anh from the Ministry of Trade and Industry’s Vietnam Trade Promotion Agency.

Anh has served a five-year term as commercial attaché at the Vietnamese embassy in Rome .

But the market was extremely sensitive in terms of products safety, especially the volume of additives and chemicals in food, he warned.

“They can detect harmful chemicals on plastic toys that even manufactures are not aware of,” Anh said.

Exhibitions were important gateways for Vietnamese business to get access to the Italian market, he said.

“There are 200 international fairs specialising in single products held in Italyevery year,” Anh added.

Vietnam has potential to expand trade with Italy given that the latter largely trades with Europe and the US and is trying to shift towards countries in the Asia-Pacific, according to Martino Castellani, head of the Italian Institute for Foreign Trade’s Intellectual Property Rights Desk.

“ Italy is trying to diversify its trade with other partners, especially in the Asia-Pacific, North Africa and the Middle East , following the financial crisis,” he said.

Textile and garment, leather, agricultural products and foodstuffs accounted for 76 percent of Italy ’s imports from Vietnam , he noted.

Trade between the two countries topped 1.5 USD last year, with the balance in favour of Vietnam .

“ Italy sees Vietnam as one of the main bridges to get access to the Asia-Pacific apart from China and India ,” Anh said, highlighting the European nation’s commitment to Vietnam as a strategic commercial and investment partner in Asia . But Italian investment in Vietnam remains insignificant compared to some other countries, ranking 33 rd with 156 million USD.

Many Italian investors were now moving from China to Vietnam , Anh said, noting that some giants like maker of barcode readers Datalogics were already based here.Scooter-maker Piaggio is considering moving base toVietnam from Singapore.

Tags: Vietnam Italy cooperation, Vietnam Italy trade