11:53 | 16/07/2015 Economy
On July 14, a delegation of more than 20 Indian firms paid a working visit to HCM City to survey the market, learn about the investment climate and seek local partners to establish long-term and sustainable cooperation in the future.
The business delegation includes companies involved in such industries as equipment, industrial and agricultural machines, construction materials, tourism, logistics, consultancy, pharmaceuticals, agriculture and food.
Regarding Vietnam-India economic links, Andhra Chamber of Commerce President V.L Indira Dult described Vietnam as an important partner of India in South East Asia as well as a strategic partner in India’s “Act East” policy.
In recent years, both nations have demonstrated strong commitments to promoting trade and investment with one another. However, they have not yet obtained positive results as expected.
She urged business communities to take full advantage of favourable conditions to accelerate trade and investment between the two nations.
Vo Tan Thanh, HCM City branch Vietnam Chamber of Commerce and Industry VCCI General Director, said the ASEAN-India FTA to take effect and the establishment of ASEAN Economic Community (AEC) later this year will open up a bright prospect for cooperation between India and ASEAN including Vietnam. Vietnamese enterprises should seize this good opportunity to push up trade and investment with the Indian market.
India is now among the top ten trading partners of Vietnam, while Vietnam ranks 28th among trading partners of India, with two-way trade turnover increasing from over US$1 billion in 2006 to US$8 billion in 2014./.