A Vietnam- India Business Forum was held at the headquarters of the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, India on March 16.

Besides business representatives, the event attracted the participation of local economists and scholars along with delegates from Vietnam’s Ministry of Industry and Trade (MoIT), and the Vietnamese Embassy in India.

Addressing the event, Director of the MoIT’s South West Asia and Africa Markets Department Tran Quang Huy said the Vietnam’s economy recovered strongly in 2015 with GDP growth reaching 6.68 percent.

An overview of the event (Source: tintuc.vfpress.vn)

He noted that great opportunities are awaiting Indian enterprises in Vietnam as the country has joined several free trade agreements (FTA) between ASEAN and China, India, the Republic of Korea (RoK), Australia, and New Zealand.

Vietnam has also signed the Trans-Pacific Partnership (TPP) agreement alongside FTAs with the European Union, the RoK and the Eurasian Economic Union (EAEU), he added.

Operating Director of Bhartiya Group, Shailesh Pathak said great potential remains for bilateral cooperation in many fields, and the forum provided a chance for businesses of the two sides to explore possibilities for partnership.

Participations at the event discussed cooperative opportunities in the fields of renewable energy, transport, tourism, construction materials, cement, coal, mineral, agricultural products and frozen food.

In 2015, bilateral trade between Vietnam and India reached 5 billion USD. The two countries have set a bilateral target of 15 billion USD by 2020.

Source: VNA