Vietnam, India working to promote trade ties

More than 150 Indian firms operating in different spheres attended a trade promotion programme held by the Vietnamese Ministry of Industry and Trade in New Delhi on July 18.

The programme is intended to create an opportunity for Vietnamese and Indian businesses to meet and cooperate in areas such as food processing, consumer goods, cosmetics, handicrafts, home furniture, and agricultural products.

On this occasion, a memorandum of understanding between the Indian Importers of Chambers of Commerce and Industry (IICCI) and the Association of Foreign Investment Enterprises (VAFIE) was signed.

Through the event, the Vietnamese Embassy in India and the ministry hope to provide more business and investment opportunities to enterprises from both sides.

According to data from the Indian Ministry of Commerce and Industry, trade turnover between the two nations reached US$14.13 billion in the fiscal year 2021-2022 (April 2021-March 2022), creating a solid premise for achieving the US$15 billion target set by both nations' leaders.