Italy shifts strategic trade focus toward ASEAN, but why now?

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