A screenshot of the online conference (Photo: VNA) Hanoi (VNA) - An online conference on tradepromotion via the Vietnamese community in India and Nepal was held on May 20.
It was jointly held by the Vietnam Trade PromotionAgency (VIETRADE) at the Ministry of Industry and Trade, the trade office ofthe Embassy of Vietnam in India, the association of Vietnamese people in Indiaand Nepal, and the Indian Importers Chambers of Commerce and Industry inVietnam.
VIETRADE Deputy Director General Le Hoang Tai told theconference that Vietnam boasts huge potential for export to the Indian marketof nearly 1.4 billion people.
Prominent exports to the country include farm produceand processed foodstuff, particularly dragon fruit and basa fish, while staplessuch as cashew nut, coffee, and peppercorn also have room for growth.
The two governments have agreed on the need to developsupply chains in the fields of garments and textiles, footwear, electronicdevices, machinery, and mechanical products, he noted.
Bilateral trade increased more than 2.06-fold to 11.21 billionUSD from 5.43 billion USD between 2016 and 2019, with Vietnam posting a tradesurplus of 2.1 billion USD in 2019.
Those figures, however, remain modest compared to potential.
Meanwhile, Nepal is also viewed as a promising market for Vietnam.
Both countries are members of the WTO and annual bilateraltrade averages about 30 million USD.
Vietnam exports mobile phones and components, computers,electronic devices, and peppercorn to Nepal, while importing cosmetics andhygiene products, among others.
Vietnamese firms were advised to study the customs andculture of the two countries prior to working on export contracts, and should anticipate a language barrier, time-consuming sea transport, and competitionfrom other countries./.
