A high level
Vietnamese delegation from Ministry of Agriculture and Rural Development of
Vietnam met a Trade Promotion Council of India (TPCI) delegation, in Delhi on
24 October 2018 to discuss and enhance bilateral trade between the two
Vietnamese delegation was led by Mr. Tran Thanh Nam,
Deputy Minister of the Ministry,accompanied by senior government officials and
Vietnamese businessmen from the agriculture sector.
The Vietnamese ambassador to India Mr. Pham Sanh Chau
will also be present in the meeting.
delegation is led by its Chairman, Mohit Singla.
Vietnamese and TPCI delegations will discuss business opportunities and future
cooperation between India and Vietnam as well as ways and means to promote
Indusfood in Vietnam.
Vietnam is seeing high economic growth and expansion of trade and investment,
which has resulted in Vietnam moving out of the category of Least Developed
Country (LDC) and become part of new lower middle income country (MIC). It has
also seen sharp truncation in poverty levels, which has resulted in bolstering
the growth of GDP, currently estimated at USD 200.8 billion.
India-Vietnam bilateral trade stood at USD 7.8 billion in 2015-16 with India
maintaining a positive trade balance. During 2016, 16 MoUs were signed between
the two countries during the visits of Indian Prime Minister to Vietnam and
Vietnamese President to India focusing areas like information technology, cyber security,
health, software development and training, aviation, shipping, civil nuclear
Though India is an agrarian exporter, broadly its trade basket is complimentary
and there is immense scope for increasing bilateral trade. Also, trade in
services is another way for enhancing India’s trade, as under India-ASEAN
services trade agreement, mobility of skilled and semi-skilled labourers has
been liberalized and it can be used as a policy instrument.
Vietnam requires technological assistance for its socio-economic and trade logistics
development for which India is an appropriate partner and both the countries
discussed expansion of trade and investment so as to achieve the target of USD
15 billion worth of bilateral trade by 2020.
Trade Promotion Council of India (TPCI) is an apex trade body under the
Ministry of Commerce which focuses on promoting and facilitating trade, with
focus on agri and food, education, IT and entertainment as also chemicals,
plastic and telecom sectors.