The Italian Trade Commission (ICE) in Vietnam and the National Association of Italian Manufacturers of Footwear, Leathergoods and Tanning Technologies (ASSOMAC) opened a pavilion to introduce the latest wood products and technologies.
The pavilion is part of the 15th Vietnam International Woodworking Industry Fair (VietnamWood 2023) and the Vietnam International Furniture Accessories, Hardware & Tools Exhibition (Furnitec 2023) that opened in Ho Chi Minh City on September 20 and will run until September 23.
ICE Director Fabio De Cillis said that his office supports Italian enterprises in seeking Vietnamese partners who have the potential to import wood processing machines and equipment from Italy.
ICE also strives to build cooperative relationships with organisations and agencies to better connect the business communities of the two countries.
The Italian and Vietnamese economies are both similar and complementary. Vietnam is currently Italy's largest trading partner in the Association of Southeast Asian Nations (ASEAN) and Italy is Vietnam's 4th largest trading partner in the EU. Those create a strong motivation for the development of industries in Vietnam and Italy in general and the woodworking sectors in particular.
Vietnam's real estate market is closely associated with the wood industry, particularly the furniture manufacturing industry. Therefore, Italian businesses expect to provide Vietnamese partners with technology to meet the requirements of production and business, he said.
In addition, Italy is famous for heritage restoration and jewelry while Vietnam is paying more and more attention to those fields to preserve its important cultural and historical values.
Moreover, Italian enterprises also have strengths in the green economy, and circular economy, particularly in infrastructure development, energy, and electrical vehicles.
VietnamWood 2023 attracted 320 exhibitors from 28 countries and territories. They showcase comprehensive automatic production lines and wood system integration with a focus on digital transformation.
It also featured eight pavilions from Austria, Canada, France, Germany, Italy, Russia, the US, and Taiwan (China).