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Vietnam highlights strong ties with India, calls for aiming higher trade target.
Sep 13, 2022

With a bolstering trade between India and Vietnam, the two countries should aim to raise trade targets, expressed Vietnam's Deputy Chief of Mission in India Do Thanh Hai in a round table session on Bilateral Trade Opportunities between India and Neighbouring countries on Monday.
 
He also focused on the need to grow trade in sectors like electronics, automobiles, computers, pharmaceuticals, and agricultural products.
 
'Trade between India and Vietnam is growing stronger. We should have a higher target. We're optimistic about growth in sectors like electronics, automobiles, computers, pharmaceuticals, and agricultural products,' said Do Thanh Hai.
 
He also added that the two countries also have direct maritime links that contribute to better trade ties.
 
Ambassador of Myanmar to India, Moe Kyaw Aung highlighted the tremendous work that has been done to enhance India and Myanmar trade relations in the session. He also expressed happiness for Myanmar being a part of ASEAN.
 
'India and Myanmar enjoy good relations. We've strong cultural ties and share a long land border. A lot has to be done about trade and investment.', said Moe Kyaw Aung.
 
Common prospects shared by India and Vietnam as emerging economies
Being the emerging economies of Asia, India and Vietnam have a lot in common in terms of economic interests and trade. Together, they carry the potential in creating alternative supply chains in Asia after the global disillusionment with the China-centric supply chain during the Covid pandemic.
 
Bilateral trade between India and Vietnam stood at USD 11.12 billion in 2020-21. Vietnam holds 15 positions in the list of largest trade partners of India. On the other hand, India stands in 10th position in terms of Vietnam's trade partners.
 
Another important pillar in the strategic partnership between India and Vietnam is their Comprehensive Strategic Partnership since 2016 and defense cooperation. Both countries continuously engage with each other in terms of Defense Policy Dialogue, military-to-military exchange, high-level visits, capacity building, and training programmes.
 
India and Vietnam have also cooperated in UN Peacekeeping, ship visits and bilateral exercise. There are constant efforts from both countries for expanding bilateral engagements.
 
Cultural cooperation between India and Vietnam
The two countries also organise student exchange programmes and other programmes to enhance cultural cooperation between the two countries. India and Vietnam also signed a cultural agreement in 1976. In 2016, Swami Vivekananda Indian Cultural Centre in Hanoi. Before that, the Institute of Indian and South-West Asian Studies under the aegis of the Vietnam Academy of Social Sciences was inaugurated in Hanoi in 2012. There has been extensive tourism between India and Vietnam. Before COVID hit the world, around 1,69,000 Indians visited Vietnam and 31,000 Vietnamese visited India.
    
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