10:10 | 15/01/2016 Cooperation
India’s Ministry of Commerce and Industry and the Confederation of India Industry held the third co-operation conference between India, Cambodia, Laos, Myanmar and Vietnam (CLMV) in New Delhi from January 11-13.
The conference took place in New Delhi from January 11-13. (Credit: VNA)
Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu, Ambassador Ton Sinh Thanh, and leaders of Tay Ninh, Soc Trang, Tien Giang, Ninh Thuan and Ca Mau provinces, and over 30 businesses operating in the fields of agriculture, fishery, transport, household appliances and building materials attended the conference.
Entitled “India – CLMV regional integration: Developing regional value chain”, the event focused discussions on measures to intensify economic integration connectivity and developing a value chain between India and CLMV countries.
According to Nirmala Shitharaman, Indian Minister of State for Commerce and Industry, trade between the two sides reached over US$11 billion, however potentials have yet to be fully tapped.
She proposed establishing a project development fund to maintain production facilities in CLMV countries.
Speaking at the event, Deputy Minister Tu said that regional connectivity towards developing the regional value chain is increasingly popular due to its important role today.
Strengthening regional co-operation and co-operation between sub-regions has great significance for economic growth of not only member countries but also the whole region, Tu said.
He added that Vietnam continually supports India’s initiatives and proposals to boost the country’s relations with ASEAN, including the suggestion to speed up the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement between ASEAN and its six partners countries, including India./.