Proposing India consider reducing trade defense measures against Vietnamese goods

Wood industry enterprises need to equip themselves with "life buoys" before the "wave" of trade defense investigations. Enterprises need to pay more attention to trade defense.

At the recent 18th meeting of the Vietnam-India Joint Committee on Economic, Trade, Scientific and Technological Cooperation co-chaired by Foreign Minister Bui Thanh Son and Indian Foreign Minister Subrahmanyam Jaishankar, the two sides conducted a comprehensive review and assessment of bilateral relations since the 17th meeting of the Vietnam-India Joint Committee (August 2020) and the implementation of the Vietnam-India Comprehensive Strategic Partnership Action Plan for the 2021-2023 period.

At this meeting, the two sides agreed to increase delegation exchanges and contacts at high and all levels between the two countries; maintain effective implementation of existing bilateral cooperation mechanisms, and promptly put into operation the Economic Diplomacy Dialogue mechanism at the Deputy Foreign Minister level.

At the same time, Vietnam and India will promote the development of an Action Program for the 2024-2026 period; continue to strengthen defense and security cooperation in the spirit of the Joint Vision Statement on Vietnam-India Defense Partnership to 2030; promote negotiations and early signing of a Memorandum of Understanding on judicial cooperation between the Ministry of Justice of Vietnam and the Ministry of Law and Justice of India.

Hướng tới đưa kim ngạch thương mại Việt Nam - Ấn Độ lên 20 tỉ USD

At the 18th meeting of the Vietnam - India Joint Commission, the two Ministers signed the minutes of the meeting and agreed to hold the 19th meeting of the Joint Commission on Economic, Trade, Scientific and Technological Cooperation in India at a suitable time - Photo: BNG

The two sides of Vietnam and India recognized that economic and trade cooperation has recovered and developed well after the pandemic, with two-way trade turnover in 2022 exceeding the 15 billion USD target set by the two countries' senior leaders; agreed to closely coordinate to create a favorable corridor for trade and investment activities, striving to soon bring trade turnover to the 20 billion USD mark.

Foreign Minister Bui Thanh Son suggested that India consider reducing trade barriers and trade defense measures against Vietnamese goods and services and facilitate procedures for importing steel from Vietnam.

In addition, the Indian Minister of External Affairs supported the two sides to soon extend the Memorandum of Understanding on economic and trade cooperation for the 2018-2023 period; agreed to effectively implement the Framework Agreement on agricultural cooperation, which allows some fruit products and processed products of the two countries to be exported to each other's markets; and suggested that the two countries soon apply online payment methods.

On development cooperation and education and training, Indian Minister of External Affairs Subrahmanyam Jaishankar agreed to continue supporting Quick Impact Projects (QIPs) as well as annual scholarships under the Indian Technical and Economic Cooperation (ITEC) Programme and the Cultural Exchange Programme and Common Cultural Scholarship Programme (CEP/GCSS).

On this occasion, the two Ministers of Vietnam and India agreed to strengthen cooperation in science, technology and information, accordingly, soon deploy the 4th meeting of the Joint Working Group on Information Technology and negotiate and sign the Vietnam - India Digital Partnership Agreement.

Minister Bui Thanh Son highly appreciated India's support for the restoration, conservation and embellishment of the World Cultural Heritage site of My Son in Quang Nam province. At the same time, he agreed to increase delegation exchanges in arts and sports, encourage tourism businesses of the two countries to promote tourism, culture, cuisine, diversify tourism services and products, etc.

The two Ministers agreed to consider increasing direct flights between the two countries to enhance cooperation in tourism, economy, trade and people-to-people exchange.

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