Thua Thien-Hue intensifies trade promotion with India
Thua Thien-Hue province’s potential and its policies to attract investment were introduced to Indian businesses at a seminar held in the central locality on December 18.
Vice Chairman of the provincial People’s Committee Phan Ngoc Tho said that India is a market with huge potential for businesses of Vietnam in general and Thua Thien-Hue in particular, especially in electronics, information technology and garments and textiles.
The province has implemented the one-stop-shop mechanism and simplified administrative procedures along with providing support for businesses in investment and trade promotion and vocational training, he said.
Do Huu Duy, deputy head of the Africa, West Asia and South Asia Department under the Ministry of Industry and Trade, briefed participants on potential of the Indian market, the Vietnam-India trade ties, advantages of the ASEAN-India free trade agreement, as well as proposals to boost bilateral trade in the time to come.
According to him, India is now one of Vietnam ’s leading trade partners. Two-way trade is estimated at more than US$3.9 billion in 2013, of which over US$ 1.8 billion come from Vietnam ’s exports to India .
Vietnam mainly sells mobile phones and components, machinery, rubber, iron and steel to India, while buying animal feed, pharmaceutical products, machinery, corn, cotton and plastic materials from this market.