Vietnam envoy seeks better business ties with Punjab, Haryana

By IANS | Published: March 12, 2021 06:34 PM2021-03-12T18:34:43+5:302021-03-12T19:30:20+5:30

Chandigarh, March 12 Vietnam Ambassador to India, Pham Sanh Chau, on Friday sought increased cooperation with industries and ...

Vietnam envoy seeks better business ties with Punjab, Haryana | Vietnam envoy seeks better business ties with Punjab, Haryana

Vietnam envoy seeks better business ties with Punjab, Haryana

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Chandigarh, March 12 Vietnam Ambassador to India, Pham Sanh Chau, on Friday sought increased cooperation with industries and the travel community based in Chandigarh, Punjab, Haryana and Himachal Pradesh.

Both Punjab and Haryana have emerged as significant markets sharing economic and touristic potential with Vietnam, he told the media here.

"Punjab is a key hub for textile-based industries, including yarn, readymade garments and hosiery, pharmaceutical and agricultural products, whose exports feature Vietnam among India's top 15 trading partners in 2019," he said.

"Vietnam is also an ideal honeymoon destination for couples in the region and fast becoming popular as a perfect destination to celebrate dream weddings."

Chau said "We aspire to forge a positive relationship between India and Vietnam across a wide number of sectors. From developing Indian business interests in Vietnam to working closely with travel agencies in northern India to boost tourism, we work to create a favourable image of Vietnam by developing economic and touristic activities in the region."

In contrast to other ASEAN economies, Vietnam has succeeded in keeping the coronavirus under control.

Vietnam has till date reported 1,300 coronavirus cases, keeping the economic impact of the outbreak to a minimum.

"Today (post-coronavirus), Vietnam is looking at becoming Southeast Asia's single economic success with the country rising to fourth in nominal GDP in the Association of Southeast Asian Nations (ASEAN) this year, surpassing Singapore and Malaysia and gaining on the Philippines (IMF). Rising exports have also helped to drive growth, as companies relocate production from China," said the Ambassador.

Vietnam has also surpassed its regional rivals Indonesia and Thailand and is the EU's second-most important trading partner in ASEAN.

The European Union-Vietnam Free Trade Agreement (EVFTA) is the second FTA between the EU and an ASEAN country, after Singapore. Vietnam is the second country to sign trade and investment agreements in the region, he added.

Since Punjab, together with Haryana is a major hub of SMEs encompassing industries that include food processing, tractors and auto components, agro-based parts, bicycle and bicycle parts, sports goods, light engineering goods, metal and alloys, chemical products and textiles, they become good trading partners to Vietnam.

( With inputs from IANS )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

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