Viet Nam, India seek ways to remove obstacles to trade ties
Viet Nam, India seek ways to remove obstacles to trade ties
Officials from Viet Nam and India discussed specific measures to remove obstacles to trade and promote investment co-operation between their businesses during the fourth meeting of the Joint Sub-committee on Trade in Ha Noi on Wednesday.
The event was co-chaired by Vietnamese Deputy Minister of Industry and Trade Cao Quoc Hung and his Indian counterpart Anup Wadhawan.
Delegates compared notes on solutions to tighten economic relations, expand export markets and take advantage of their strengths and resources to aid development in both countries.
In his remarks, Hung called on India not to impose anti-subsidy measures against stainless steel pipes and copper wire rods imported from Viet Nam, and to consider not expanding anti-dumping measures when they expire.
He also urged India to issue official documents allowing the import of Vietnamese dragon fruits and speed up the process to pave the way for other fresh fruits of Viet Nam – including longan, pomelo, rambutan and durian – to enter the South Asian market.
The official voiced his concern over India’s imposition of the Minimum Import Price (MIP) on pepper and suggested the country reverse the measure and abide by regulations of the World Trade Organisation (WTO) and the ASEAN Trade in Goods Agreement (ATIGA).
He proposed India further support Vietnamese delegations joining trade promotion activities in the country, encourage local enterprises to visit Viet Nam to scope out the market and invest in the areas of their strength and help budget carrier Vietjet open direct flights between the two countries.
Wadhawan raised issues in India’s interest, such as the granting of licences to facilities processing buffalo meat to be exported to Viet Nam.
The free trade agreement between the Association of Southeast Asian Nations (ASEAN) and India was also discussed.
Statistics show trade between Viet Nam and India reached US$10.7 billion in 2018, up 39 per cent from 2017.
India has, to date, run 208 FDI projects in Viet Nam with total registered capital of about $878 million, ranking 26th out of 129 countries and territories investing in the Southeast Asian nation.
