Vietnam, India see huge export potential ahead for farm produce

Shubhra made the comments during a teleconference on October 7 that was jointly hosted by the Vietnamese embassy in India and the Indian Importers Chambers of Commerce and Industry (IICCI).

She affirmed recent years has seen India emerge as one of the world’s key trading partners in terms of fruit and agricultural products. Indeed, India is capable of providing Vietnam with various kinds of fruit and agricultural items, such as pomegranates, grapes, wheat, and cotton.

She went on to highlight key Vietnamese agricultural products such as dragon fruit, coffee, cocoa, and cashew nuts which also have great potential to penetrate the Indian market.

According to the Indian official, there are currently 255 operational investment projects in Vietnam, showing Indian businesses’ keen interest in the Southeast Asian country’s investment environment.

Vietnam has been working towards an agricultural processing hub by 2030, a target which is expected to provide fresh impetus for stronger trade ties between the two sides, she stressed, adding that India is hopeful of becoming one of Vietnam’s leading trade partners like the US and China.

In response, Vietnamese Ambassador to India Pham Sanh Chau introduced participating delegates to a number of typical Vietnamese agricultural products such as coffee, tea, cocoa, cashew nuts, and coconut water, and proposed that India remove tariff and non-tariff barriers as well as simplify its administrative procedures, making it easier for their commodities to penetrate deep into each other’s markets.

The Vietnamese diplomat also urged the Indian side to open their market for a number of Vietnamese fruits such as longan, grapefruit, durian, and rambutan.

Ambassador Chau affirmed the teleconference has offered a great chance for both sides’ business communities to strengthen connectivity and seek reliable partners.

The embassy will continue to fully tap into all available resources and promote trade facilitation in order to remove difficulties for businesses from both sides, said Chau.