Illustrative image (Photo: VNA)Hanoi (VNA) – Vietnam and Indiadiscussed specific measures to remove obstacles to trade and investmentcooperation between their businesses during the fourth meeting of the JointSub-committee on Trade in Hanoi on January 23.
The event was co-chaired by Vietnamese Deputy Minister of Industry and Trade CaoQuoc Hung and his Indian counterpart Anup Wadhawan.
Delegates compared notes on orientations and solutions to tighten economicbonds, expand export markets of each other, and take advantage of theirstrength and resources for the development of the respective countries.
In his remarks, Hung called on India not to impose anti-subsidy measuresagainst stainless steel pipes and copper wire rods imported from Vietnam, andconsider no expansion of anti-dumping measures when they are expired.
He also urged India to issue official documents allowing the import of Vietnamesedragon fruits and speed up the process paving the way for other fresh fruits ofVietnam, firstly longan, pomelo, rambutan and durian, to enter the South Asian market.
The official voiced his concerns over India’s imposition of the Minimum ImportPrice (MIP) on pepper and suggested the country soon take back the measure andabide by regulations of the World Trade Organisation (WTO) and the ASEAN Tradein Goods Agreement (ATIGA).
He proposed India further support Vietnamese delegations joining tradepromotion activities in the country, encourage local enterprises to visitVietnam to scope out the market and invest in the areas of their strength, andassist Vietnam’s budget carrier Vietjet Air to open direct flights between thetwo countries.
For his part, Anup raised issues of India’s interest, such as the grant oflicences to facilities processing buffalo meat which will be exported toVietnam.
The free trade agreement between the Association of Southeast Asian Nations(ASEAN) and India was also put on the table.
Statistics show that trade between Vietnam and India reached 10.7 billion USDin 2018, up 39 percent from 2017, with export value hitting 6.5 billion USD, up75 percent, and import revenue up 5.2 percent.
India has, to date, run 208 FDI projects in Vietnam with total registeredcapital of about 878 million USD, ranking 26th out of 129 countriesand territories investing in the Southeast Asian nation.-VNA
VNA
