November 12, 2019
PHDCCI’s 1st India – ASEAN Business Summit, 2019 ends with the discussion on growing Trade and Commerce between India & Vietnam
The 1st ‘India-ASEAN Business Summit 2019: Today, Tomorrow, Together’ ended today on a successful note with the discussion on the growing trade and commerce between India and Vietnam. The Business Summit 2019 witnessed participation from 10 countries and more than 60 overseas delegates. Providing boost to the business between India – ASEAN over 45 B2B meetings were held.
In his address His Excellency Mr. Pham Sanh Chau, Ambassador, Embassy of Socialist Republic of Vietnam, said that politically, sentimentally, culturally and religiously, India and Vietnam are bound by innate similarities. Over the past years economic and trade development between our countries have increased significantly. I am hopeful that friendly relations between the two countries will continue to flourish and further deepen our ties, said H.E Mr. Chau.
Mr. Chau also urged India to join RCEP at the earliest as it would be beneficial for India as it will provide greater access to the regional market and more opportunities for Indian businesses to expand in the region, which in turn will increase foreign investments.
Mr. Sanjay Aggarwal, Senior Vice President, PHD Chamber of Commerce and Industry, said that the Indian-Vietnamese relationship has been extremely friendly since the time India got independence. Vietnam is an important business partner of South East Asia for India. India is also providing assistance to Vietnam and a special flight from Kolkata to Hanoi has been started this year to improve connectivity, he added.
Also, present on the closing day of India ASEAN Business Summit were Mr. Do Quoc Hung, Deputy Director General, ASEA-Africa Market Department, Ministry of Industry and Trade of Vietnam, Mr. Ajay Poddar, Chair, International Committee on East Asia, ASEAN and Oceania, Mr. Neelabh Dalmia, Co Chair, International Committee on East Asia, ASEAN and Oceania, Mr. Vivek Seigell, Principal Director, PHDCCI, among others.
The objective of the business summit was to reinforce and strengthen Government of India’s Act East Policy and to deepen bilateral trade and investment relations with ASEAN nations. The summit also provided a platform to all stakeholders, delegates and diplomats to explore the viability of policy changes and exchange sustainable suggestions on strengthening the India-ASEAN relationship.