Decoding the news. On September 4 and 5, Hanoi and Seoul will host two Business Forums organised by the Italian Ministry of Foreign Affairs.
- Opened by Deputy Minister for Enterprises and Made in Italy Valentino Valentini, the events are designed to strengthen Italy’s economic footprint.
- Rome seeks to consolidate its presence in a region that has become pivotal to global economic and strategic balances, combining trade, industry, and defence.
Italian POV. “We have already organised over 50 economic partnership initiatives since the beginning of the year, and now we are returning decisively to Asia,” Foreign Minister Antonio Tajani declared.
By the numbers:
- Italian exports to Vietnam rose by 26% in 2024, while trade flows increased by 11.5% in the first four months of 2025.
- Vietnam is Italy’s leading supplier within ASEAN, accounting for 40% of Italian imports from the region.
- South Korea is Italy’s third-largest export destination in the Asia-Pacific (12% of regional exports).
- Bilateral trade reached €12.5 billion in 2023, making Italy the country’s second-largest European supplier.
Sectors in focus:
- Hanoi: machinery (agritech, mechanical engineering), energy transition, circular economy, infrastructure and transport (including aerospace), pharmaceuticals, semiconductors, artificial intelligence.
- Seoul: semiconductors, automotive, green energy, ICT — alongside traditional Made in Italy strengths such as fashion and design.
Zoom in: cooperation with Hanoi. Relations strengthened by the 50th anniversary of diplomatic ties and the 10th anniversary of the Strategic Partnership.
- Cooperation in economy, justice, and security, with scientific projects involving the Italian Space Agency.
- The EVFTA positioned Italy as Vietnam’s third-largest European trading partner (over €6 billion in 2023 trade).
- The forum reflects a long-term strategy that looks to Vietnam for supply chain autonomy and new commercial linkages.
Zoom in: partnership with Seoul. In 2024, Italy and Korea marked the 140th anniversary of relations between the Kingdom of Italy and the Joseon Dynasty.
- Rome and Seoul act in concert on global issues, from the war in Ukraine to the energy transition.
- Bilateral cooperation centres on semiconductors, AI, green energy, and the automotive industries.
- Recent agreements have extended the partnership to industry, research, and space.
The big picture. The twin initiatives are part of Italy’s broader Indo-Pacific engagement.
- Following high-level missions to India and China, reinforced ties with Japan and ASEAN, and the deployment of the aircraft carrier Cavour to the region, Italy is reaffirming its determination to be a strategic and economic actor.
- The business forum format illustrates Italy’s “whole-of-system” strategy, aligning businesses, institutions, and trade associations.
What we’re watching. The Italian Ministry of Foreign Affairs’ reform, approved by the Council of Ministers, will take effect on January 1, 2026.
- It will institutionalise the integration of political diplomacy and economic promotion, cementing the framework behind initiatives like the Hanoi and Seoul forums.
