Deputy Minister of Industry and Trade Phan Thi Thang (R) and Additional Secretary of the Indian Ministry of Commerce and Industry Rajesh Agrawal (Photo: VNA) New Delhi (VNA) – Deputy Minister of Industry andTrade Phan Thi Thang and Additional Secretary of the Indian Ministry of Commerce and Industry Rajesh Agrawal co-chairedthe 5th meeting of the Vietnam-India Joint Sub-Commission on Trade in New Delhion August 8.
In hisremarks, Agrawal highly valued Vietnam'ssocio-economic development achievements, affirming that India considers Vietnamas a top-tier partner in Southeast Asia and always attaches importance to expandingeconomic and trade cooperation with the Southeast Asian nation.
He acknowledged the noticeable development trend in trade betweenthe two countries in recent years, highlighting several positivechanges since the 4th meeting of the joint sub-committee held in 2019 in Hanoi.
For her part, Thang remarked that there are many challengesahead in the global and regional context, including economic recession,political conflicts, trade tensions, high inflation, and lower demand.
Deputy Minister of Industry and Trade Phan Thi Thang (C) speaks at the event (Photo: VNA) These issues will undoubtedly have an impact on the globaleconomy, including both Vietnam and India, she said, adding that the meeting playsa crucial role in addressing difficulties facing businesses, ensuringcontinuity, and promoting bilateral cooperation.
She stressed that the two nations need to make efforts to fostersustainability-oriented two-way trade; remove trade barriers for imports andexports; promote market access for products of the strength of each side; boost collaboration in e-commerce; and strengthen business,trade, and tourism connectivity by opening more direct flights and increasingthe number of flights between major cities of the two countries.
Agrawal totally agreed with the proposals by the Vietnamese official, sayingthat his agency will work with relevant Indian authorities to address lingeringissues and difficulties in order to facilitate import-export activities of thetwo sides’ businesses.
Indiawants to elevate cooperation with Vietnam in terms of pharmaceuticals, processedfood, tourism, and information technology, he said.
The two sides agreed to closely coordinate in organisingtrade promotion programmes and activities, fairs and exhibitions; and further expandtrade links in areas with huge potential such as agriculture, aquaculture,textiles, leather and footwear, pharmaceuticals, chemicals, fertilisers,machinery, equipment, and consumer goods.
They agreed to bolster investment cooperation in area of joint interest.
Both sides pledged to push relevant agencies to complete the risk assessmentprocess and move towards allowing market access for prioritised types of fruitsin the near future./.
