ASEAN-India meet offers opportunities

More than 100 Indian businesspeople and State officials are taking part in the ASEAN - North East India Investment and Trade Opportunities Summit, which began on February 12 in HCM City.

“The promotion of investment and trade opportunities of the northeastern states will highlight the very important links between India states similar to ASEAN geographically and culturally, especially to Vietnam,” Indian Ambassador to Vietnam, Shri Lai Tmuana said in his opening speech.

Le Luong Quang, Vice Minister of Industry and Trade said “Vietnam and India have established a very good relationship for a long time. Last year, bilateral trade between the two nations reached US$2.5 billion. I think Indian northeastern states have huge potential and Vietnamese enterprises’ growing investment in the region will help foster the relationship.”

India is one of the most populous countries in the world and has exhibited rapid economic development. The country offers trade and investment opportunities in machinery, equipment, steel, chemicals, wheat, spices, lubricants and oils.

Imports from Vietnam include fertilizer, artificial resin, aniseed, tea, essential oils, cosmetic preparations, non-ferrous metals and seafood, as well as chemical materials and products, raw silk, silk yarn, paperboard, and wood products.

The three-day event will include a meeting among high-ranking ministers and conference sessions on agriculture, food processing, infrastructure, tourism and regional integration talks.