Vietnam, India seek to foster economic, trade ties
The Ministry of Industry and Trade (MoIT) and the Embassy in India and the host country’s PHD Chamber of Commerce and Industry jointly organised a business forum between the two countries on the evening of August 7 in New Delhi.
Vietnamese products introduced at a fair in India (Photo: VNA)
New Delhi (VNA) – The Ministry of Industry and Trade (MoIT)and the Embassy in India and the host country’s PHD Chamber ofCommerce and Industry jointly organised a business forum between the twocountries on the evening of August 7 in New Delhi.
MoIT Deputy Minister Phan Thi Thang saidthat Vietnam and India have a lot of favourable conditions to boost theireconomic cooperation and trade, as both have good economic growth and stablemacroeconomic environment, direct flights link their major cities, and their import-exportstructures are complementary.
She pointed to several challenges and difficulties facingbusinesses, including negative impacts of world economic fluctuations, the lackof market-related information and business connectivity, and high costs and longtransportation times.
To address these difficulties and promote economic and tradecooperation, Thang proposed strengthening supply chain connectivity based onthe strengths of each country, and applying information technology and digital transformationin trade promotion. She also pointed to increasing direct transportation and establishing moreroutes between the two countries to save time, costs and take advantage of availableresources.
Shantuna Srivatava, former Chairman of the Vietnam Chamber ofCommerce in India, emphasised that potential for bilateral cooperation has notbeen fully exploited. He suggested setting a goal of raising two-way trade to20 billion USD in the coming time./.
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Vietnamese products introduced at a fair in India (Photo: VNA) 
