The signing ceremony of an agreement establishing a Joint Commission on Economic Cooperation takes place on June 30, 2020.

The signing took place during a teleconference between Deputy Minister of Industry and Trade Hoang Quoc Vuong and Italian Under-Secretary of State for Foreign Affairs and International Cooperation Manlio Di Stefano on Tuesday.

The two officials discussed ways to revive their post-pandemic economies and to utilize the EU-Vietnam Free Trade Agreement (EVFTA) which will take effect in August.

According to Mr. Vuong, the Vietnamese and Italian economies are similar. He said, “we are confident that our bilateral trade will regain momentum when the COVID-19 pandemic is under control. The free trade agreement and investment protection agreement between Vietnam and the EU will open up huge business opportunities for both sides. Vietnam is looking forward to a strong investment flow from Italy in fields such as textiles and footwear where Vietnam is offering incentives.”