Viet delegation calls on FIEO
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From the left, Mr. Ashok Kumar, Dy. Director General; Mr. Ajay Sahai, Director General FIEO; Mr. Subhash Mittal, Convenor, FIEO Committee on International Trade & Export Promotion; Leader of the Vietnamese delegation Mr. Pham The Dung, Director General, Import Export Department, Ministry of Industry and Trade (MOIT); and Mr. Nguyen Tuan Quang, Commercial Counsellor & Head of Vietnam Trade office in New Delhi. |
While welcoming a 12-member delegation from Vietnam comprising of senior government officials, Mr. Subhash Mittal, Convenor, FIEO Committee on IT & EP, informed that FIEO had participated in Vietnam Trade Expo last year and was looking to participate in Vietnam Trade Expo to be held in December at Ho Chi Minh City. The delegation led by Mr. Pham The Dung, Director General, Import Export Department, Ministry of Industry and Trade (MOIT) called on FIEO on 25 July.
Mr. Dung said that Vietnam’s trade with India was in deficit because of two major reasons –similarity in export basket and lack of understanding of each other’s market and business environment. He invited Indian businessmen to identify trade opportunities in Vietnam.
Mr. Dung hoped that India would come up with a more appropriate tariff regime to encourage Indian businessmen to import goods from Vietnam, especially crude oil, coal, ceramics, handicrafts, construction materials, etc. Similarly, he said Indian exports could make a dent in the Vietnamese market in various sectors including IT, agro and food processing, railway, energy, tea processing machinery, textile machinery, power transmission and generation.
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While replying to the queries of the delegates, FIEO Director General Mr. Ajay Sahai said that in addition to ECGC, now private companies could also offer the credit insurance to the exporters. FIEO and ECGC work in tandem to increase India’s trade, he said. Earlier, Mrs. Priya Safaya, Joint Deputy Director General, FIEO made a presentation on ECGC schemes covering various types of risk. Mr. Sahai during his address noted that exports accounted for 60% of GDP of Vietnam and with the inflation rate of nearly 27%, Vietnam was able to keep its product competitive in the world market. |
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Mr. Subhash Mittal, Convenor, FIEO Committee on International Trade & Export Promotion (left) welcoming the Leader of the Vietnamese Delegation. |
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The meeting ended with a vote of thanks by Mr. Ashok Kumar, Deputy Director General, FIEO. He observed that with exchange of such visits, India’s trade with Vietnam would improve in the near future. Mr. Nguyen Tuan Quang, Commercial Counsellor & Head of Vietnam Trade office in New Delhi was present in the meeting. Vietnamese delegation included representatives from the office |
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A view of Vietnamese Delegates |
of Prime Minister, Ministries of Industry & Trade, Finance and State Bank of Vietnam, Bank for Investment & Development and Vietnam Insurance Corporation.
