Indian ambassador to Vietnam, Ranjit Rae:
He assumed that the economic ties between Vietnam and India have not matched the bilateral political relationship’s potential. Both countries have dynamic economies and share common long- and medium-term visions, which offers numerous opportunities for promoting co-operation.
After Vietnamese State President Truong Tan Sang’s visit to India last October, a bilateral business forum was held to help businesses in both countries further understand each other and co-operate more effectively, said ambassador Rae.
The Indian embassy in Vietnam has worked closely with Vietnamese agencies, particularly the Vietnam Chamber of Commerce and Industry (VCCI), as a liaison between businesses on both sides to promote trade through trade exhibitions in both countries and field trips to Vietnam for Indian businesses to seek out opportunities for co-operation and investment.
Having worked in Vietnam for many years, Ambassador Rae said he is mostly impressed by the dynamic country and its energetic people and he hopes to boost bilateral co-operation.
He recognised that previous Indian generations deeply understood Vietnam and its people, saying that the young generations in both countries should enhance their awareness about the bilateral strategic partnership through more exchange visits and meetings.
Indian Council of World Affairs Director General, Rajiv K. Bhatia:
Vietnam is known in India as a beautiful land with heroic people who are disciplined and ready to dedicate themselves to and sacrifice for their national cause, said Mr. Bhatia.
The strategic partnership with Vietnam is one of India’s most important diplomatic relations. The common memories, close historical relationship, commercial and cultural exchanges, religious influences and similar viewpoints on many issues have laid a firm foundation for relations between the two countries to flourish.
Three important fields for co-operation the bilateral strategic relationship include trade, economics and energy; security and national defence; and at regional and international forums to promote peace, stability, development and prosperity in East Asia, said Mr. Bhatia.
He also said that Vietnam is the focus of Southeast Asian political power and strategic structure, and India’s “Look East” policy recognises Vietnam’s important position in ASEAN. India is committed to following ASEAN’s principles of amity and co-operation, support the ASEAN Regional Forum (ARF) and ASEAN Defense Ministers' Meeting Plus (ADMM-Plus), and recognise the important role of the East Asia Summit (EAS). The common interests and purposes both countries have in the Asia – Pacific region will improve their bilateral relations.
General Director of the African, West and South Asian Markets Department, Ministry of Industry and Trade, Ly Quoc Hung:
Ly Quoc Hung says that trade ties between Vietnam and India have a good legal framework. India has recognised Vietnam’s market economy and the two sides signed many agreements, including the ASEAN-India Trade in Goods (AITIG) agreement, which creates favourable conditions for the two countries to promote their competitive advantages in both markets. However, Vietnamese exports to India just reach 0.3% of India’s import value and goods from both countries have not penetrated each other’s markets very deeply. This is because businesses of both sides, especially Vietnamese businesses, do not yet consider either market as being key.
Goods from both countries are not really competitive in price, quality, design, and delivery time and India’s tariff protection is also an obstacle.
To overcome those barriers, Mr. Hung suggested that both countries continue enhancing the legal framework for bilateral economic and trade activities and establish a joint trade committee soon to promote bilateral relations and co-operation. The two sides should also study and prioritise fields, and consider opportunities for co-operation by purchasing farm products with advantages on each side.