Vietnam, India bolster bilateral investment, tradeThursday, February 27,2020
AsemconnectVietnam - Minister of Planning and Investment Nguyen Chi Dung has affirmed that India is a major trade partner and investor of Vietnam, urging the two sides to spare no efforts to soon realize the target of bringing bilateral trade to 15 billion USD.
The official made the call during talks with his host Indian Minister of State for External Affairs Shri V. Muraleedharan on February 25, as part of his working visit to the country.
At the talks, Dung spoke highly of India’s increasing position in the international arena and affirmed that the Vietnam-India relations are thriving, voicing his hope that the bilateral ties will be strengthened in the future.
Regarding India’s financial and scientific-technologically potential, Dung said that the nation’s investment in Vietnam remains modest, adding that Vietnam hopes to welcome more Indian investors in the coming time.
For his part, V. Muraleedharan pledged that India will closely collaborate with and support Vietnam as the country is holding the role of the ASEAN Chairman in 2020 and a non-permanent member of the United Nations Security Council in 2020-2021.
The host also affirmed that Vietnam is a key partner in Southeast Asia and playing the role of a pillar in India’s Look East Policy.
The two officials also took note of existing difficulties in the bilateral trade. That India adjusts floor rate, raises import tariff on Vietnam’s cashew nuts and imposes restriction on incense stick imports has caused difficulties for Vietnamese firms and producers, Dung noted.
Meanwhile, V. Muraleedharan expressed his hope that Vietnam will open its door to Indian fruits and create favourable conditions for its pharmaceutical companies.
A roundtable between the Vietnamese minister and Indian businesses was held the same day, drawing nearly 100 leading firms including Essar, HCL and Mahindra.
The India visit of the Vietnamese Minister was made at the invitation of the National Institution for Transforming India (NITI Aayog). While in India, Dung joined working sessions with leaders of Ministry of Commerce and Industry, Confederation of Indian Industry (CII), and visited Indian tech giants of Nasscom and Wipro.
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