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Vietnam - India trade promotion enhanced

Wed, 27 May 2015. Last updated Thu, 25 Jun 2015 09:07

India is one of the strategic partners of Vietnam. To further develop the relation between two countries, Vietnam - India trade promotion is being enhanced significantly. Besides, other sectors are developed in the cooperation between two countries.

On May 5 afternoon, at the Government Headquarters, Deputy Prime Minister Hoang Trung Hai had a meeting with India Deputy Foreign Minister Anil Wadhwa who is having a working visit in Vietnam. Welcoming the delegation of the Deputy Foreign Minister of India in Vietnam, Vietnamese Deputy Prime Minister expressed his satisfaction at the positive development of the relation between Vietnam and India - a strategic partnership, particularly in the field of politics, economy, defense and security, science and technology, and culture and education. At present, Vietnam and India became important economic partners of each other. The bilateral trade turnover in 2014 reached over $6 billion. Many billion-dollar projects of India bring high economic effects, and have significant strategic meaning.

Vietnam Deputy Prime Minister expressed his impression at the important achievements in the construction and development of India, especially the development programs and modernization as Made in India, and Building 100 Smart Cities... In the time coming, it is expected that the two sides will continue to promote and increasingly deepen the relation of a strategic partnership, respect and promote the efficiency of bilateral cooperation mechanisms, and implement the agreements signed and cooperated in regional and international forums.


India pavilion at Vietnam EXPO 2013


To thank Deputy Prime Minister Hoang Trung Hai for spending time to meet and exchange about Vietnam - India trade promotion, the Indian Deputy Foreign Minister Anil Wadhwa expressed his impression at the achievements of Vietnam, highly appreciated the effective cooperation between two countries over the time. Deputy Minister Anil Wadhwa suggested Vietnam government to create favorable conditions, promote and implement the establishment of direct flights from Vietnam to India, marine cooperation, implementation of projects on industry, transportation infrastructure, garment, information technology, education and training... Previously, on February 12, at the headquarter of Federation of India Export Organization (FIEO) in New Delhi (India), a conference on Vietnam business was organized by Vietnam Trade Office - Vietnam Embassy in India and FIFEO. In the side of Vietnam, there were the participations of Mr. Ton Sinh Thanh, Mr. Tran Quang Tuyen, along with economic experts of the embassy. In the side of India, there is the participation of General Director of FIFEO, leaders of FIFEO, along with the representatives of more than 40 Indian businesses.


Federation of India Export Organization in India


Speaking at the opening ceremony, General Director of FIEO Ajay Sahai confirmed that India and Vietnam have had a good traditional relation, appreciated the role of Vietnam in action policy on "eastwards" of India. He also said that Vietnam had an important role to help India to increase connectivity, boost relations with Southeast Asian countries through increasing economic - trade cooperation. The conditions of Vietnam economy and society, and those of India have relatively homologous, which can complement and support each other to develop exports and imports to meet the needs of production; thereby, it creates major opportunities for enterprises of both countries. However, to achieve the bilateral trade target of 15 billion USD in 2020, both business communities and the governments need a lot of effort.

Besides sharing useful experiences of representatives of some Indian companies doing business in Vietnam, leaders of the Embassy and Trade Office has answered many questions from participants during and after seminars, helping them to better understand the business opportunities and investments in Vietnam. In addition to the seminars, from early 2015 Vietnam Trade Office in India has helped Vietnam businesses to participate more fairs sponsored by the government of India, in close collaboration with the department Embassy's units, hold many meetings, discussions with the business community in Indian states to strengthen trade promotion activities, promulgating business opportunities, investment, and tourism in Vietnam.

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