Vietnam, India seek to enhance trade exchanges

Thursday, July 15, 2021  12:29

Hoang Minh Chien, deputy director of the Vietnam Trade Promotion Agency addresses the event (Photo: VNA)

VOV.VN - Boosting trade exchanges between Vietnam and India via direct and online platforms has significantly contributed to further promoting the comprehensive strategic partnership that exists between both sides.

Hoang Minh Chien, deputy director of the Vietnam Trade Promotion Agency (Vietrade), made the statement during a July 7-8 teleconference hosted by Vietrade and the Vietnamese Embassy in India.

He said despite a range of adverse impacts caused by the COVID-19, Vietrade has still been able to organise a number of online trade promotion schemes with India in recent times. these events have received strong support from the Indian side and attracted the participation of numerous businesses from both countries.

Do Thanh Hai, counselor at the Embassy of Vietnam in India, revealed that textiles and garments, pharmaceuticals, supporting industries, renewable energy, and agricultural products have become key to driving forward bilateral trade ties. Indeed, online trade exchanges have served as an important channel for local firms as they seek greater business opportunities.

In response, Hiren Gandhi, chairman of the Food Committee of Gujarat Chamber of Commerce and Industry, advised enterprises to make use of legal commercial contracts as a means of avoiding future trade disputes and logistical issues.

He therefore underscored the importance of the correct legal contract, a factor which can help businesses avoid 80% of trade disputes, noting that Vietnamese enterprises should not utilise the likes of brokers or agents when attempting to export goods to India.

During the event, Atul Kumar, president of the Indian Importers Chamber of Commerce and Industry, joined Bui Trung Thuong, Vietnamese trade counselor, to introduce business opportunities in the Indian market and share experience in doing business successfully in the Vietnamese market.

Experts expressed their belief that there are bright prospects ahead for Vietnamese enterprises as they try to boost exports to India. In addition, Vietnam also represents a potential market for Indian investors to do business in, particularly in the fields of agricultural production, food processing, automobiles, and energy.

A series of business matching sessions were also held during the forum to introduce high-quality Vietnamese products, including fruit and vegetables, dried mangoes, dried dragon fruit, seafood, beverages, spices, confectionery, and consumer goods of all kinds.