“The COVID-19 crisis disrupted supply chains in both India and Vietnam. However, annual bilateral trade between the two countries which was a mere USD 200 million in the year 2000 has grown to over USD 11 billion in 2020. Vietnam is a fast-growing economy in the ASEAN region, apart from Singapore, Indonesia, Malaysia and Thailand. Indian companies can offer skills and training to Vietnamese companies in the fields of food processing, labour, construction, port and airport development, IT and education, apart from healthcare. There is assurance from the Vietnamese government to quickly reopen the economy as the pandemic abates. My office is committed to support small, medium and large Vietnam companies for expanding trade between the two regions”, said Dr. Madan Mohan Sethi, Consul General of India in Ho Chi Minh City, Vietnam at the inaugural webinar for the three-month-long bilateral online exhibition on ‘Promoting Business in India and Vietnam’

The programme and the exhibition are organised by World Trade Center Mumbai in association with World Trade Center Binh Duong New City and the Consulate General of India in Ho Chi Minh City, Vietnam. The bilateral online exhibition focusing on renewable energy, industrial machineries, construction material, agro-commodities and agro and food processing sectors is being held from September 28, 2021 to December 28, 2021 on the platform wetrade.org

Speaking on the occasion, Mr. Manoj Barthwal, Chairman, INCHAM said, “India is a complex and diverse democracy, and offers a variety of products and services, including the traditional medical science Ayurveda, Yoga, attractive tourist destinations and a flourishing entertainment industry. The year 2020 has been a challenging year due to the COVID-19 crisis, however, the pandemic has spurred the growth of digital platforms. Given the trade synergies between India and Vietnam, businesses from the two countries should enhance their partnership through programmes such as the upcoming bilateral online exhibition being organised by WTC Mumbai, WTC Binh Duong New City and the Consulate General of India in Ho Chi Minh City, Vietnam.”

In his address, Dr. Vijay Kalantri, Chairman, MVIRDC World Trade Center Mumbai suggested, “India and Vietnam share buoyant bilateral trade and commercial relations, however, we should explore more ways of partnership such as through technology transfer and direct investments by focusing on potential sectors. With this webinar, we are setting the stage for the three-month-long exhibition to promote bilateral trade between India and Vietnam, with participation of over 100 exhibitors. I am confident that with the support of Consulate General of India in Ho Chi Minh City and WTC Binh Duong New City, we can reach the USD 20 billion bilateral trade figure in the next three years.”

Dr. Kalantri further remarked, “India is a trustworthy and reliable partner and has proven its global competitiveness in the IT, pharmaceuticals and agriculture sectors since the outbreak of the pandemic. Apart from these sectors, businesses in the two countries can collaborate in the textile, auto-manufacturing and other sectors with mutual complementarities.”

In her remarks, Ms. Huynh Dinh Thai Linh, CEO, WTC Binh Duong New City said, “The upcoming exhibition will help business entities in the two regions to connect, collaborate, and create ample trade opportunities. The bilateral exhibition is aimed at enhancing our commercial and cultural ties, and exploring growth and synergistic opportunities. It will help participating enterprises from the two countries to tap each other’s local markets and participate in online buyer-seller meetings.”

The programme was attended by members of trade and industry, financial institutions, Consular Corps and academia from India and Vietnam.