Vietnam and the northeastern region of India held a teleconference on June 2, discussing investment and business partnerships. The event was attended by over 70 businesses from both countries, and was organized by the Vietnamese Trade Office in India, Invest India, and India’s Ministry of Development of North Eastern Region.
Vietnamese Ambassador to India, Nguyen Thanh Hai, highlighted India as an important trading partner of Vietnam, contributing towards India’s Act East Policy. Additionally, the northeastern region of India has received preferential policies from the Indian government, and shares many culinary, customs, and cultural similarities with Vietnam.
The two countries have experienced growth in trade of agro-forestry-fishery products, however, Vietnam exports more products to India, than India to Vietnam. Harpreet Singh, Joint Secretary at the MDoNER, highlighted the potential for developing agricultural, bamboo, and handicraft products in the northeastern region of India.
Areas where the two countries could cooperate include transportation, where transportation costs in India are declining, opening opportunities for Vietnamese firms. Geetima Krishna, head of Invest India’s North East division, emphasized the advantages of the region’s young workforce and their capabilities.
Participants also discussed the potential for cooperation in agriculture, handicraft production, tourism, and cultural exchange. This teleconference is a positive step towards tighter economic links between Vietnam and India’s northeastern region.
