Italy shifts strategic trade focus toward ASEAN, but why now?
H.E Massimo Rustico Ambassador, Ambassador of Italy to Malaysia, Prime Minister Datuk Seri Anwar Ibrahim and Investment, Trade & Industry Minister, Tengku Datuk Seri Zafrul at the Malaysia–Italy Economic Partnership Roundtable in Rome, Italy. - PMO
ROME: In a significant recalibration of its global trade priorities, Italy’s strategic focus on ASEAN as the epicenter of its economic engagement in the Asia-Pacific, underlining the region’s rising importance in global trade and geopolitical dynamics.
The Italian Government Export Action Plan for 2025 sets a clear trajectory to deepen economic ties, increase exports, and establish long-term industrial cooperation with Southeast Asia’s fast-growing markets.
At the Malaysia–Italy Economic Partnership Roundtable in Rome, Vice President of the Council and Foreign Minister Antonio Tajani said ASEAN offers immense opportunities.
“ASEAN is no longer a peripheral partner. It is now central to Italy’s international trade strategy.
“The Asia-Pacific region is central to Italy’s global economic strategy,” Tajani said, citing the region’s projected 4.4% economic growth in 2025 and expanding consumer markets.
In 2024, Italian exports to ASEAN surged to €10.7 billion—a 10.3% increase over the previous year.
Singapore, Vietnam and Malaysia emerged as top destinations, accounting for nearly 60% of Italy’s total exports to the region.
Sectors showing strong traction include industrial machinery, renewable energy, textiles and fashion, and advanced digital technologies.
Total Italian Export to ASEAN (2024): €10.7 billion
• Growth: +10.3% compared to 2023
• Priority Sectors:
• Machinery & equipment
• Renewable energy
• Chemicals & pharmaceuticals
• Textiles & fashion
• Agri-food
• Aerospace
Top 3 Italian’s Export Destination in ASEAN:
1. Singapore
• Italian Export 2024: €3.2 billion (+14.3%)
• Share: 30.3% of total ASEAN export
• Priority Sectors:
• Digital transformation & connectivity
• Biotechnology
• Agritech
• Renewable energy
2. Thailand
• Italian Export 2024: €1.9 billion (+2.2%)
• Share: 18.2%
• Priority Sectors:
• Industrial machinery & equipment
• Textiles & clothing
• Electronics & optics
• High-tech transportation components
3. Malaysia
• Italian Export 2024: €1.7 billion (+23.4%)
• Share: 15.8%
• Priority Sectors:
• Digital & energy transition, circular economy
• Physical & digital infrastructure
• Advanced mechanics & robotics
• High quality goods
• Transport
• Aerospace
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