Vietnam, Italy to sign customs-related cooperation agreement
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.
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
How to expand export links between Vietnam and the EU, particularly Italy, and improve business management of small- and medium-sized enterprises, were among others discussed at a workshop in Rome.
Italy has prioritised developing relations with Vietnam in the Southeast Asian region in particular and Asia in general, Vice President of the Senate Valeria Fedeli has said.
Italian President Sergio Mattarella suggested a stronger effort from both Vietnamese and Italian Governments in order to lift bilateral relations to a new level.
Investment and trade between Vietnam and Italy haven’t been on par with their potential and demand, the countries’ Joint Committee on Economic Cooperation admitted at its second meeting in Rome.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
Illustrative image (Photo: VNA)
