In the meeting between the two PMS , the leaders briefed each other of their countries' situation and exchanged views of bilateral cooperation. The two also discussed regional and world issues of common concern.

PM Dung said he was delighted at the development of friendly and cooperative ties between the two countries.

The development has been manifested through bilateral trade, which surpassed the US$1bil mark for the first time last year, he said.

In 2006, Vietnam earned about US$800mil from exporting goods to Italy with strong growth seen in key industries such as aquaculture, textile and garments, coffee and rubber.

Italy ranked ninth among the European Union countries and 31st among all countries investing in Vietnam. Italy now has poured US$55.9mil in 22 projects in Vietnam's leather footwear, construction, sanitary ware, water heaters and steel producing industries.

PM Dung stressed that given the country's recent entry into the World Trade Organisation (WTO) and deep and wide integration into the international market, Vietnam has attached importance to its partnership with Italy.

The PM also expressed hope that Italian enterprises and investors would participate more actively in Vietnam's modernisation and industrialisation.

The PM praised the assistance and support from Italy in developing the local culture, education and training, science and technology. He requested the two countries further cooperate in labour and vocational training, and in tourism.

Vietnamese PM Dung ( L ) and his Italian couterpart Prodi.

On behalf of the Vietnamese Government and people, PM Dung thanked Italian people for their valuable supports to Viet Nam in the past struggle for national independence and unification, as well as in the current national renewal process.

He also thanked Italy for its supports during the country's trade negotiations with the WTO and asked Italy to continue supporting Vietnam in its application for non-permanent membership of the UN Security Council in the 2008-09 term.

The Italian Premier recalled the fine memories of his visit to Vietnam to attend the fifth Asia-Europe Meeting (ASEM 5). Premier Prodi expressed his admiration for Vietnam's achievements in its renewal process.

Italy highly respects Vietnam's role and position in Southeast Asia, Prodi said, expressing hope that the country will act as a bridge to increase Italy's reach across the region.

The Premier also stressed the importance of further strengthening of bilateral trade and economic relations, given the immense potential of both countries.

Italy will encourage its giant economic groups to enter Vietnamese market and continue to support Vietnam in developing small- and medium-sized enterprises, education and training, science and technology and tourism, as well as protecting the country's cultural heritages.

He affirmed that Italy agreed with PM Dung's proposal to early convene the joint committee in order to deepen bilateral relationship.

Following the talks, PM Dung and Premier Prodi held a joint press conference to announce its results. Prodi later held a banquet in honour of PM Dung and his entourage.

The same day, the Vietnamese PM received Oliviero Diliberto, Secretary General of the Party of Italian Communists and Elia Valori, Chairman of the Lazio Union of Industrialists.

On January 25 afternoon, PM Dung and his entourage left Rome for Zurich to attend the annual World Economic Forum.