Teleconference seeks to boost Vietnam-India trade

At the event (Photo: VNA)

New Delhi (VNA) – A teleconference, themed “Vietnam-India: Promoting trade in farm produce and processed food”, was held on May 7 to discuss business potentials during and after the COVID-19 pandemic.

Speaking at the event, Director of the Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency Vu Ba Phu described India as a huge market in the Central South Asia region with a population of nearly 1.4 billion and the potential of consuming Vietnamese farm produce such as tea, pepper, rubber, confectioneries, tra fish, cereals. However, India’s imports of Vietnamese products remain modest compared to its purchasing power, he said.

Phu called on the Indian Importers Chambers of Commerce and Industry (IICCI) to continue partnering with the Indian Government to open up the market for several Vietnamese farm produce such as longan, litchi and rambutan, among others.

IICCI President Atul Kumar Saxena, who has nearly 40 years of experience in working with Vietnam, mentioned 10 major products that Vietnam could tap to export to not only India but also other countries such as rice, coffee, spices, cocoa and cashew nuts.

Apart from rice export, he suggested that Vietnam should use modern technology to process products of added value and improve business strategy to gain more successes in India.

Vietnamese firms shared their advantages and disadvantages in doing business in India while Indian counterparts also presented their opportunities and challenges in increasing their presence in Vietnam.

Participants highlighted the need to fully tap resources and conditions to facilitate trade, thus promptly tackling difficulties for the two countries’ farm produce businesses./.