India and Vietnam Explore Free Trade Agreement to Boost Bilateral Trade

Vietnamese Prime Minister Pham Minh Chinh, during his visit to India, stressed the importance of a free trade pact with India to enhance economic cooperation. Both nations aim to boost bilateral trade to USD 20 billion. Indian and Vietnamese leaders emphasized stronger economic ties and strategic infrastructure investment.

Vietnamese Prime Minister Pham Minh Chinh, accompanied by a high-level delegation, emphasized the importance of exploring a free trade agreement with India to bolster economic ties. His remarks came during the Vietnam-India Business Forum held on Wednesday.

Chinh, urging for deeper cooperation, suggested that the two countries target an increase in bilateral trade to USD 20 billion. At the event, he highlighted the necessity of shared benefits and greater market access through a suitable FTA.

Union Minister Jitin Prasada echoed this sentiment, advocating for robust economic cooperation and recognizing the complementary growth strategies of both nations. The ongoing trade negotiations, including the review of the India-ASEAN Trade and Goods Agreement, are expected to further enhance bilateral economic relations. Prasada also pointed out India's participation at the Vietnam International Trade Fair as a sign of growing ties.

(With inputs from agencies.)