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Do Duy Khanh, First Secretary of the Vietnamese Trade Office in India, presents information at the webinar on July 12. |
The seminar was among a series of activities promoting bilateral trade, introducing the Indian market and its sectors, and sharing experience in working with Indian partners. More than 170 Vietnamese enterprises from different industries attended the event.
Bui Trung Thuong, Trade Counselor of Vietnam in India, said the South Asian country is the world’s fifth largest economy, following the U.S., China, Japan, and Germany, and will become the second largest by 2075 as predicted by Goldman Sachs.
The Indian market boasts huge potential for business partnerships in various fields, he said, recommending Vietnamese enterprises thoroughly learn about Indian partners to develop partnerships.
He instructed them in the use of some tools to search for information about Indian businesses and procedures for lodging complaints to the Indian Directorate General of Foreign Trade in case of trade disputes.
Providing further guidance, Do Duy Khanh, First Secretary of the Vietnamese Trade Office in India, stressed the importance of learning about basic information on Indian firms when Vietnamese companies plan partnerships with them.
Thuong highlighted the excellent negotiation capability of Indian entrepreneurs who have a good grasp of legal affairs and rich experience in negotiations. In many cases, Vietnamese companies lack understanding about contract terms, leading to complaints and disputes after that.
The Trade Office hopes to continue receiving requests from enterprises to hold more webinars helping with their business activities with Indian partners, thereby creating a favorable and sustainable business environment for both sides.
Source: VNA