Vietnam-India trade cooperation highlighted

Crowds of domestic and Indian scientists, managers and businessmen gathered at a workshop in Hanoi on May 11 to discuss economic cooperation potential between Vietnam and India, organised by the Ho Chi Minh City National Politics Academy.

At the event, Director of the Academy Ta Ngoc Tan highlighted the long- lasting relationship between Vietnam and India, saying it has been continuously consolidated by generations of leaders of the two nations and upgraded to comprehensive relations as affirmed in their joint statements.

In the most recent communiqué from Prime Minister Nguyen Tan Dung’s visit to India in last October, the two Governments pledged to develop the comprehensive strategic partnership and foster all-around cooperation between the two nations.

Their cooperation commitment consists of five pillars: politics, economics, energy, security and national defence.

Indian Ambassador to Vietnam Preeti Saran said the Vietnam-India strategic partnership has seen exceptional development with comprehensive cooperation in various fields, including politics, national defence, trade and investment, education, science and technology, culture and people-to-people diplomacy.

Vietnam is India’s first partner in its “Look East” policy, she said, adding that the relationship has been reinforced by the shared interest in peace, prosperity, security and order in the region and the world.

Participants discussed the role of the relations, reviewed current economic cooperation and highlighted challenges and potential for the respective nations.

They also offered approaches to bring Vietnam-India economic cooperation to new heights, with businesses from both nations playing an active role in the process.

On the occasion, the Academy launched a website of the Indian research centre, updating the Vietnam-India relations and facilitating the teaching and understanding of the landscapes, peoples and socio-economic development of the two nations.

Trade between Vietnam and India hit 5.4 billion USD in 2014 with Vietnamese exports valued at 2.4 billion USD.

They have targeted a trade revenue of 7 billion USD in 2015, increasing to 15 billion USD by 2020.

VNA