Vietnamese Prime Minister Pham Minh Chinh said Wednesday that India and Vietnam should explore possibilities of a ‘Free Trade Agreement’ (FTA) to enhance their economic partnership.
Speaking on Wednesday during his three-day visit to India. Chinh, who is accompanied by a delegation of ministers, deputy ministers, and business leaders, addressed the Vietnam-India Business Forum, emphasising the goal of boosting bilateral trade to $20 billion in the future.
Chinh also met India’s EAM S Jaishankar. The Vietnamese Prime Minister called upon businesses from the two nations to work together, and bring about better solutions to raise bilateral trade to $20 billion going forward.
He also emphasized the importance of strengthening cooperation in strategic sectors such as transportation infrastructure, energy, digital infrastructure, and climate resilience, to further deepen the partnership between the two nations.”
“I would like to ask that we expand our…market access to each other’s products such as through a suitable FTA between Vietnam and India. Of course, we need to discuss this…We need to make sure that our benefits are shared with each other for Indian businesses. I hope that you (India) would continue to invest and invest more in Vietnam,” he said at the Business Forum organised by Ficci.
“I’ve spoken to many Indian businesses. I called on them to make investment into infrastructure, including strategic infrastructure, transportation, health, educational, cultural and all the rest of it,” Chinh said.
He further called upon businesses of the two countries to work together to realise their “shared aspirations” and to build the strategic, comprehensive strategic partnership between Vietnam and India.
The Vietnamese Prime Minister also participated in the launch ceremony of the new flight route between Ahmedabad (India) and Da Nang (Vietnam).
Pointing out that Vietnam imports 33 per cent of its pharmaceutical products from India, Chinh said it would like to work with India to establish a proper pharmaceutical ecosystem in Vietnam.
With inputs from agencies.
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Vietnamese PM pitches for free trade pact with India, more investments by Indian businesses
