Vietnamese Trade Counsellor in India Nguyen Son Ha has stated that
bilateral economic and trade ties, which have come a long way in the
recent past, are one of the “pillars” in the Vietnam-India strategic
partnership.
Elaborating on this pillar in an interview
granted to a Vietnam News Agency correspondent in New Delhi on
November 13, Ha noted that India is one of Vietnam’s ten biggest
trade partners, while Vietnam is the country’s fourth biggest trade
partner in the Association of Southeast Asian Nations (ASEAN).
He said that at the 15th Vietnam–India Inter-Governmental meeting
in New Delhi in July, the two sides agreed to soon set up an
inter-subcommittee for trade between Vietnam’s Ministry of Industry
and Trade and India’s Ministry of Commerce and Industry.
The move is to push forward bilateral trade links and realise the goal
of lifting two-way trade to seven billion USD by 2015, he said.
From January to September, India’s imports from Vietnam stood
at 1.84 billion USD, an annual rise of 49.6 percent, while its exports
to Vietnam saw year-on-year growth of 31.2 percent to 2.1 billion
USD. The figure drove two-way trade to 3.94 billion USD, up 39.2 percent
against the same period last year.
According to him,
India is investing in 73 projects worth over two trillion USD in
Vietnam, ranking 12th among the top 100 foreign investors in the
country.
Referring to ways to effectively tap bilateral
economic trade potential, Ha suggested the inter-subcommittee for trade
gets up and running soon.
The Counsellor recommended
Vietnamese and Indian firms hold regular meetings and exchanges via
fairs and exhibitions so that key consumer goods and industrial products
can reach more members of the public.
Vietnam and
India should encourage enterprises to invest in each other, including
in the private sector, he said, adding that there should be more
favourable conditions for business players. For instance, they should be
allowed to apply for long-term visas, and there should be more direct
flights between the two countries opened.-VNA