Vietnam Seeks Free Trade Pact with India to Boost Economic Cooperation

Vietnamese Prime Minister Pham Minh Chinh proposed the exploration of a free trade agreement between India and Vietnam to enhance economic cooperation. Chinh emphasized the importance of stronger bilateral trade and called for increased Indian investment in Vietnam, particularly in strategic infrastructure sectors.

Vietnamese Prime Minister Pham Minh Chinh urged India and Vietnam to explore the possibility of a free trade agreement to further bolster economic cooperation.

Chinh, accompanied by a high-level delegation, including ministers and business leaders, is on a three-day visit to India. Addressing the Vietnam-India Business Forum, he emphasized the goal of increasing bilateral trade to USD 20 billion.

Chinh called for expanding market access for each other's products and stressed the importance of shared benefits. He urged Indian businesses to invest more in Vietnam, especially in strategic infrastructure sectors such as transportation, energy, and digital and climate infrastructure. Additionally, he highlighted Vietnam's interest in establishing a proper pharmaceutical ecosystem with India.

(With inputs from agencies.)