In order to promote connectivity, open up new cooperation opportunities in the mechanical engineering and machinery manufacturing industry between Vietnam and India, the Consulate General of India in Ho Chi Minh City. Ho Chi Minh City, India Mechanical Industry Export Promotion Council (EEPC), and Vietnam Chamber of Commerce and Industry, branch in HCMC. Ho Chi Minh City (VCCI-HCM) has coordinated to organize an online conference "Trade between Vietnam and India".
Speaking at the last online conference, Mr. Pranay Verma - Indian Ambassador to Vietnam said that India is the 5th largest economy in the world, and the mechanical and machinery industry is one of the industries. producing billions of dollars. Bilateral trade between India and Vietnam reached more than 11 billion USD in the past year. The Ambassador said that the potential for cooperation and trade between the two countries in many fields in general and the mechanical and machinery manufacturing industries in particular is still very large.
According to Mr. Vo Tan Thanh - Vice President of VCCI, Director of VCCI-HCM, Vietnam and India are both members of the ASEAN-India agreement. India is one of the potential markets for Vietnam to diversify its import markets because of good products and affordable prices.
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Mr. Mahesh Desai, Chairman of the Indian Mechanical Industry Export Promotion Council (EEPC) said: “In recent years, Vietnam has appeared in the top 3 destinations for India's technical export in the region. ASEAN region. Technology is an important component of the Vietnam-India bilateral trade. That reflects that both countries are focusing on technical production to build a strong economic foundation and move on to the global value chain. ”
Mr. Mahesh Desai added that over the years, EEPC India has taken the lead in creating business opportunities between the two countries, by connecting Indian manufacturers and exporters with Vietnam.
Mr. Mahesh Desai believes that both India and Vietnam are important emerging manufacturing countries and are expected to play an important role in the manufacturing sector in the post-Covid-19 economies.
Dr. Srikar K. Reddy - Director, EP Technical Department, Ministry of Trade of India shared: “India wants to become a reliable partner of Vietnam in the supply of technical goods.”
Dr Reddy said that India's exports to Vietnam increased 4.96% in the first eight months of 2020, reaching $ 2.96 billion from $ 2.82 billion in the corresponding period in 2019. Export growth India's exports are mainly due to a substantial increase in exports of technical products such as iron and steel, other base metals, machinery, equipment, electrical products, motor vehicles and vehicle parts. engine.
“India has actually made remarkable progress in the field of engineering in recent times. The brand value of Indian technology has increased rapidly in both developed and emerging economies while the Indian government strives to make Indian exports globally competitive. and make India an exporter of high value engineering products by fully and effectively addressing the technology gap and other concerns. " - Mr. Srikar K. Reddy added.
Mr. Do Phuoc Tong - Chairman of City Association of Mechanical and Electrical Enterprises. HAMEE said that this online conference has provided more information and is ready to act as a bridge between businesses of the two countries to promote two-way direct investment between India and Vietnam. as well as enhancing technology transfer and sharing experiences between the two sides.
The conference is a stepping stone, a foundation to promote exchange and trade, and at the same time opens up new cooperation opportunities for businesses of both sides in a new period.