Vietnam, India seek ways to boost trade ties in post-pandemic period
Trade between Vietnam and India would continue to grow strongly and sustainably after the COVID-19 pandemic is brought under control, Vietnamese Ambassador to India Pham Sanh Chau said on April 28.
Vietnamese Ambassador to India Pham Sanh Chau (Photo: VNA)
New Delhi (VNA) – Trade between Vietnam and India would continue to grow strongly andsustainably after the COVID-19 pandemic is brought under control, Vietnamese Ambassador to IndiaPham Sanh Chau said on April 28.
The diplomat expressed his belief at a teleconference jointly held by India’s PHD Chamber ofCommerce and Industry (PHDCCI), the Vietnamese Embassy in India and the VietnamTrade Promotion Agency under the Vietnamese Ministry of Industry and Trade.
Chau recommended theVietnamese and Indian governments make strive to adapt to the new situationand challenges.
Businesses also needto be creative in operation, and technocrats more flexible topromote trade and investment flows from both sides, the ambassador suggested.
He called for closecooperation between the two countries to reap more achievements in the economicand trade sectors as they have recorded in the fight against the COVID-19pandemic.
Accordingto Ajay Poddar, Chairman of the ASEAN, Oceania and East Asia Committee at the PHDCCI, with reciprocal sectors, Vietnam and Indiacan cooperate effectively.
Currently, Indian major firms have invested in energy,mining, sugar production, and IT in Vietnam, he said, stressing that thebilateral trade ties and other economic relations are likely to grow stronger inthe time ahead.
Poddardescribed Vietnam as India’s window towards Southeast Asia, saying many Indiancompanies want clues or facilities supporting their operation in the region andVietnam in particular.
He highlightedpotential for cooperation in the service sector that makes up nearly 65 percentof India’s accumulative added value, and suggested the two countries join handsin the production of low-cost goods, health care, AI, agricultural food processingand scientific research.
Participating businesses called for support from Vietnamese and Indian relevantagencies, along with an open market for farm produce, removed trade barriers andsimplified administrative procedures./.
Vietnamese Vice President Dang Thi Ngoc Thinh and Indian Vice President Venkaiah Naidu affirmed that they attach great importance to the long-standing friendship between the two countries during their talks in New Delhi on February 12.
With the comprehensive strategic partnership and large purchasing power, Vietnam and India have large potential to increase two-way trade via boosting the export of their strong commodities to each other’s markets, trade officials of the two countries said.
Minister of Planning and Investment Nguyen Chi Dung has affirmed that India is a major trade partner and investor of Vietnam, urging the two sides to spare no efforts to soon realise the target of bringing bilateral trade to 15 billion USD.
Two-way trade between Vietnam and India reached 1.65 billion USD in the first two months of 2020, up 2 percent against that of the same period last year.
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Vietnamese Ambassador to India Pham Sanh Chau (Photo: VNA) 
