08:12 | 28/02/2017 Events
Deputy Minister of Industry and Trade Cao Quoc Hung has suggested India back four ASEAN members, namely Cambodia, Laos, Myanmar and Vietnam (CLMV), via its investment in manufacturing, services, infrastructure, inter-regional trade, technical training and capacity improvement.
He made the suggestion at the fourth India-CLMV business forum held in Jaipur city, the Indian state of Rajasthan, on February 27.
Hung updated participants on Vietnam’s economy and its integration into the world over the past years as well as ties between Vietnam and India.
In order to push forward with the sustainable development of Vietnam-India, and India-CLMV economic and trade links, Hung suggested strengthening bilateral transport connectivity and liberalization of trade-services, further enhancing cooperation within the ASEAN-India framework via establishing an ASEAN-India trade and investment centre, continuing India-CLMV collaboration as part of the US$100-million credit package that India has committed to CLMV, identifying specific cooperative areas and increasing the sharing of experience in State management, exchange of experts and training.
Minister of State for the Indian Ministry of Commerce and Industry NirmalanSitharaman, for her part, said ASEAN is one of the pillars in the “Act East” policy of India and bilateral ties with CLMV are appreciated, especially in engineering, renewable energy, agriculture and skill development.
She said Vietnam and India hold great potential of collaboration in diverse areas, including in garment, farm produce and pharmaceuticals.
The host highlighted India’s strength in engineering and garment and affirmed that the forum provides businesses with a chance to seek partnership and investment opportunities.
The two-day forum, co-hosted by the Confederation of Indian Industry and the Indian Ministry of Commerce and Industry, focused its discussions on engineering, construction, agro-fisheries and related sectors, skill development, energy conservation, renewable energy and electricity.
It also featured three sessions on cooperation with Cambodia, Myanmar and Vietnam.