At the event, jointly held by the Vietnam Trade Office in India, the Associated Chambers of Commerce and Industry of India (ASSOCHAM), and the HCM City Trade and Investment Promotion Centre, Ambassador Chau said The deal was officially ratified by the Vietnam National Assembly at its ninth session, Chau told the event.
He said that the garment-textile industry will be one of the five sectors that have opportunities to increase exports to the EU, while calling on Indian companies to boost investment and establish plants in Vietnam in areas India is strong in such as garment and textiles.
Indian ambassador to Vietnam Pranay Verma, for his part, said the two countries’ embassies will intensify cooperation and information sharing, and set up joint working groups to facilitate the work.
According to Verma, the Vietnamese market is potential for Indian businesses which have advantages in garment-textiles, pharmaceuticals, steel, agriculture and information technology.
At the event, participants discussed various issues and assessed the impacts of the COVID-19 pandemic on economies worldwide, including Vietnam and India, and ways of weathering the crisis.