Do Duy Khanh, First Secretary of the Vietnamese Trade Office in India, presents information at the webinar on July 12. (Photo: VNA)The seminar was among a series of activities promotingbilateral trade, introducing the Indian market and its sectors, and sharingexperience in working with Indian partners. More than 170 Vietnameseenterprises from different industries attended the event.
Bui Trung Thuong, Trade Counsellor of Vietnam in India, saidthe South Asian country is the world’s fifth largest economy, following the US, China,Japan, and Germany, and will become the second largest by 2075 as predicted by GoldmanSachs.
The Indian market boasts huge potential for businesspartnerships in various fields, he said, recommending Vietnamese enterprisesthoroughly learn about Indian partners to develop partnerships.
He instructed them in the use of some tools to search forinformation about Indian businesses and procedures for lodging complaints tothe Indian Directorate General of Foreign Trade in case of trade disputes.
Providing further guidance, Do Duy Khanh, First Secretary ofthe Vietnamese Trade Office in India, stressed the importance of learning aboutbasic information on Indian firms when Vietnamese companies plan partnershipswith them.
Thuong highlighted the excellent negotiation capability of Indianentrepreneurs who have a good grasp of legal affairs and rich experience innegotiations. In many cases, Vietnamese companies lack understanding aboutcontract terms, leading to complaints and disputes after that.
The Trade Office hopes to continue receiving requests from enterprisesto hold more webinars helping with their business activities with Indianpartners, thereby creating a favourable and sustainable business environmentfor both sides./.
VNA
