Vietnam participates in ASEAN-India expo

Vietnamese products on display at the expo. (Photo: VNA)

More than 20 Vietnamese businesses also participated in the event to seek cooperation opportunities with Indian partners in the context of trade turnover between the two countries in 2018 expanding 40 percent against the previous year to 11.8 billion USD. 

In his remarks, Vietnamese Ambassador Pham Sanh Chau said the event demonstrates India’s “Act East” policy with ASEAN playing the key role.

The comprehensive integration between ASEAN and India has been reflected through not only the increasing flows of commodities, services and capital but also the people-to-people exchanges, infrastructure connectivity, cultural and educational exchanges, and other spiritual values, he said. 

The two sides have expanded their collaboration in maritime safety as well as navigation and aviation freedom in line with international law, the ambassador noted. 

The event is co-organised by the Indian Ministry of Commerce and Industry, the Federation of Indian Chambers of Commerce and Industry, and the ASEAN-India Business Council.

It saw the attendance of representatives of the ASEAN Secretariat, officials in charge of economy, trade, investment and tourism of ASEAN and India, economists and over 100 CEOs of ASEAN and international businesses. 

On display at the expo are products and services of more than 200 enterprises from ASEAN and India, focusing on agriculture and agricultural product processing, pharmaceutical products, IT, AI, auto industry, finance-banking, jewelry, handicrafts, medical equipment, household utensils and furniture. 

The even is expected to contribute to promoting the ASEAN-India strategic partnership, particularly in economy, trade, investment and tourism, while offering a chance for economic and commercial associations and organisations, experts and businesses from both sides to exchange experience and seek cooperation opportunities. 

Within the framework of the expo, there will be seminars on agriculture, trade and investment. 

India is among the top 10 leading trade partners of ASEAN in the 2017-2018 fiscal year, with two-way trade reaching 81.33 billion USD. 

Statistics released by ASEAN show that Indian tourists to the group hit 3.3 million in 2017, making up 16.2 percent of Indian holidaymakers worldwide. 

The Association of Southeast Asian Nations (ASEAN) brings together 10 countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.