PM Dung made the statement at a reception for India’s Minister of Food Processing Industries Subodh Kant Sahai in Hanoi on May 19.

He praised the results of the talks between the Indian delegation and the Ministry of Agriculture and Rural Development (MARD) and the delegation’s visit as a practical activity to foster the two countries’ special friendship.

The PM recommended that both sides quickly sign and implement the agreements reached during the delegation’s working visit, especially the application of scientific and technological achievements in the food processing industry.

The signing of a free trade agreement between ASEAN and India and India’s recognition of Vietnam’s market economy are premise for Vietnam to further enhance the relationship between India and the Association of Southeast Asian Nations (ASEAN), said Mr Dung.

The PM expressed his hope that India, which boasts a strong economic potential, will constantly promote its trade ties with Vietnam and support the latter in reducing its trade deficit with India.

Vietnam welcomes the Indian Prime Minister’s official visit to Vietnam and his participation in the ASEAN-India conference to be held in Vietnam late this year, emphasised PM Dung.

As Chair of ASEAN in 2010, Vietnam’s prestige has unceasingly increased in the international arena, affirmed Minister Sahai, saying that the Indian Government always wants to boost cooperation with Vietnam and with ASEAN through Vietnam.

He said he was happy at the agreements reached with the MARD, particularly cooperative programmes of farm produce processing.

***The Vietnamese Ministry of Agriculture and Rural Development and the Indian Ministry of Food Processing agreed on May 19 to set up a joint committee to promote cooperation in trade, investment and agricultural production.

At a meeting in Hanoi the same day, Indian Minister of Food Processing Subodh Kant Sahai expressed the wish to increase cooperation with Vietnam in food processing and cattle feed since India, he said, is capable of providing a huge resource of materials.
He called on Vietnamese enterprises to invest in food processing technology in India.

Minister of Agriculture and Rural Development Cao Duc Phat agreed to encourage enterprises of both sides to explore each other’s markets, set up joint ventures in manufacturing and food processing industries, organise forums and trade fairs for agricultural produce and seafood in each market.

Two-way trade between Vietnam and India is steadily on the rise in recent years, of which agricultural trade makes up a significant portion. 

India mainly exports to Vietnam cattle feed, mobile phones, pharmaceutical products and materials, steel and iron, textile and apparel materials and pesticides. It imports from Vietnam coal, pepper, electronic spare parts, rubber, cinnamon, machinery and equipment, and footwear.

The two countries have signed agreements on trade cooperation, double-taxation avoidance, investment protection, consular affairs, culture, aviation and tourism, together with various other deals on mining and geology, environment and traditional medicine.