Vietnam attends first India-CLMV Reverse Buyer Seller Meet
A delegation of 25 Vietnamese businesses attended the first India-CLMV Reverse Buyer Seller Meet in Chennai city, the capital city of India’s Tamil Nadu state on October 16.
NewDelhi (VNA) – A delegation of 25 Vietnamese businesses attended thefirst India-CLMV Reverse Buyer Seller Meet in Chennai city, the capital city ofIndia’s Tamil Nadu state on October 16.
Jointly held by the Indian Ministry of Commerce and Industry and theConfederation of Indian Industry (CII), the event aims to implement cooperationactivities between Indian and Cambodia, Laos, Myanmar and Vietnam (CLMV).
It is part of India’s efforts to realise its “Act East” policy, focusing onpromoting collaboration between India and the Association of Southeast AsianNations (ASEAN), including CLMV.
With the theme “Build economic integration through regional value chains,” themeeting brought together nearly 300 delegates from India and the four ASEANcountries.
Apart from promoting agricultural products of India and CLMV, the event soughtmeasures to strengthen road, aviation and navigation connectivity, as well ascollaboration in services and science-technology.
The delegates also touched upon cooperation opportunities in energy, especiallynew and renewable energy.
The Vietnamese representatives briefed the meeting on outcomes of cooperation betweenVietnam and India and CLM countries in such spheres as economy, trade,investment and tourism./.
India’s Ministry of Commerce and Industry and the Confederation of India Industry held the third cooperation conference between India, and Cambodia, Laos, Myanmar and Vietnam from January 11-13.
Deputy Minister of Industry and Trade Cao Quoc Hung has suggested India back four ASEAN members, namely Cambodia, Laos, Myanmar and Vietnam (CLMV), via its investment in manufacturing, services.
Potential for enhancing trade ties between India and CLMV countries (Cambodia, Laos, Myanmar and Vietnam) was highlighted at a conference which opened in Phnom Penh, Cambodia on May 21.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
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Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
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While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnamese delegates to the event (Source: ) 
