(VOVWORLD) - Trade between Vietnam and India in textiles and medical equipment has enjoyed positive growth despite disruptions caused by the COVID-19 pandemic.
 Vietnamese Ambassador to India Pham Sanh Chau speaks at online conference on Vietnam-India trade ties, September 10, 2020. (Photo: Vietnamese Embassy in India) |
The two should promote cooperation in textiles and medical equipment and build a large-scale, reliable supply chain, suggested an online conference on Thursday that was attended by 250 entrepreneurs and associations from Vietnam and India.
India ranks 3rd globally in volume and 14th in value of pharmaceuticals. Its pharmaceutical sector is estimated to be worth 5 billion USD a year currently and is expected to hit 11 billion USD in 2022. This could create a breakthrough in Vietnam-India trade tie, according to Vietnamese Ambassador to India Pham Sanh Chau,
“India has a booming cotton and fiber industry, capable of supplying material for its own textile production and for Vietnam’s. India is a lucrative market for Vietnam’s textiles, which are worth 140 million USD a year, and is becoming Vietnam’s provider of medicines and medicinal materials." "We will be reliable partners,”Ambassador Chau affirmed.
Vietnam is hoping to cooperate with India in producing COVID-19 vaccines.