Vietnamese Ambassador to India Nguyen Thanh Hai speaks at the event. (Photo: VNA) New Delhi (VNA) – The Vietnam TradeOffice in India, in collaboration with the National Investment Promotion andFacilitation Agency of India (Invest India) and the Federation of Indian ExportOrganisations (FIEO) held a teleconference on February 22 to step up business cooperation opportunities in farm produce and processed food.
Speaking at the event,Vietnamese Ambassador to India Nguyen Thanh Hai said the food processingsector accounts for 32% of the total food market and 14% of the manufacturingindustry’s GDP of India. The sector is expected to draw 33 billion USD in investment inthe next decade.
With a population ofover 1.4 billion people, India is a promising market for Vietnam’s farm produceand processed food. Meanwhile, several kinds of India’s farm produce andprocessed food are likely to be sold well in Vietnam such as seafood, chili,spices, fruits and vegetables, he added.
Le Thanh Hoa, Deputy Director ofthe Agro Processing and Market Development Authority under the Vietnamese Ministry of Agriculture and Rural Development, said during 2021-2022, Vietnam’s farm produce exports to India reached 351million USD, accounting for 1.3% of India’s total farm produce imports, a modest figure.
General Secretary ofthe Vietnam Fruit and Vegetables Association (Vinafruit) Dang Phuc Nguyen saidmore Vietnamese farm produce target meeting VietGAP and GlobalGAP standards.
He suggested bothnations open their markets for fruits and vegetables and sign bilateral tradedeals to facilitate trade in farm produce.
Vietnamese CommercialCounsellor in India Bui Trung Thuong wished that firms would continue joiningtrade exchange and market introduction programmes, particularly the upcoming event with the India state of Kerala on March 8 inthe fields of agriculture, seafood and services.
In terms ofagro-forestry-aquatic product trade, Vietnam is running a deficit with India, with473.8 million USD in 2021 and 687.73 million USD in 2022./.
