Vietnamese and Indian businesses promote trade connections

The event, was held by the Consulate General of India in Ho Chi Minh City, the Confederation of Indian Industry (CII), the Ho Chi Minh City Investment & Trade Promotion Centre, and the City Association of Mechanical-Electrical Enterprises (HAMEE).

At the conference, the delegates noted that the comprehensive strategic partnership between Vietnam and India has achieved impressive results in several areas, especially in trade.

According to statistics, trade exchanges between the two countries have increased more than 60 times, from 200 million USD in 2000 to over 14.3 trillion in 2023, making India Vietnam's 8th largest trading partner. The bilateral import-export turnover in the first six months of 2024 was estimated to reach 7.18 billion USD.

Ho Chi Minh City’s export turnover to India in the first six months of 2024, was estimated at 240 million USD, a year-on-year increase of 18%.

Dao Minh Chanh, Deputy Director of the Ho Chi Minh City Investment and Trade Promotion Centre, emphasised that India has always been a strategic trade partner of Vietnam and the two countries have great potential.

The mechanics, electricity, electronics, digital technology, and energy sectors are among the largest import-export industries between the two countries. Both Vietnam and India are focusing on developing these industries.

This conference aimed to connect businesses from both countries in various sectors, including paint and chemicals, agriculture and services, waste management, and concrete equipment.

It also provided solutions for improving concrete equipment, energy and solar, infrastructure and construction, and railways and transportation.

The event is expected to foster connections between businesses from both countries, helping them find potential partners and new business and import-export opportunities in each other's markets.

It will further promote the comprehensive strategic partnership between the two nations, as well as the cooperation between India and Ho Chi Minh City.