Vietnamese Commercial Counsellor in India Bui Trung Thuong speaks at the event (Photo: VNA) New Delhi (VNA) – The Vietnam Trade Office in India held awebinar on July 5 to discuss several notes during the negotiation, signing andimplementation of contracts with Indian partners, with about 150 businessrepresentatives interested in the Indian market taking part.
Speakingat the event, Vietnamese Commercial Counsellor in India Bui Trung Thuong, whohas over 10 years of experience working in India, introduced reliable sourcesof information, including websites and portals such as www.indiantradeportal.in,agriexchange.apeda.gov.in, mca.gov.in, dgft.gov.in, etc., where businesses canlearn about India's requirements and regulations, as well as search for andverify information about potential partners.
The webinar on July 5, 2023 to discuss several notes during the negotiation, signing and implementation of contracts with Indian partners. (Photo: VNA) Thuongalso presented the transaction process, starting from receiving the inquiryuntil settling a contract, and explained important terms in the contract,the procedures for goods delivery, payment, and how to handle disputes whenthey arise.
He also advised firms to purchase cargo and marine insurance tominimise risks during the process.
Accordingto him, industrial and consumer goods must meet the standards of the Bureau ofIndian Standards (BIS) while food products require certification from the FoodSafety and Standards Authority of India (FSSAI). This is to ensure thatVietnamese enterprises comply with the quality and safety requirements forgoods when exporting to India.
Toenjoy benefits from the ASEAN-India Free Trade Agreement (AIFTA), Vietnamesebusinesses need to declare a Certificate of Origin (CO) according to the AIformat and keep the CO dossier carefully. This will be essential as India mayrequest to verify the procedures later on, he said.
Thenext webinar is expected to provide more detailed guidance on how to verifyinformation about partners in India, instructions on resolving disputes, complaints,and preventive measures. Specific information will be posted on the website ofthe Vietnamese Ministry of Industry and Trade./.
