Bengal, Vietnam have much to do to strengthen bilateral trade: envoy

West Bengal and Vietnam have much to do in terms of strengthening bilateral trade, Ambassador of Vietnam to India, Nguyen Thanh Hai said on Thursday.

Though bilateral trade between the nations has touched USD 15 billion, it only accounts for two per cent of Vietnam's global trade volume, the diplomat said addressing a Bharat Chamber of Commerce organised special session on West Bengal and Vietnam.

Speaking on the scope for establishing trade ties with West Bengal, Hai observed that aquaculture, seafood, chemicals, iron and steel, rubber and tourism have been identified as the most vibrant sectors.

He felt that an effective FTA between the nations would prove to be beneficial.

"Vietnam has 400 industrial parks and 18 economic zones. Foreign investors enjoy corporate tax holidays for 15 years, with zero tax liability for the first four years," he added.

Sharing his views on the issue of connectivity between West Bengal and Vietnam, the Ambassador said that 50 direct flights are operational between the two nations, including 14 direct flights between Kolkata and Ho-Chi-Minh City.

"Travelling between the nations now takes only 2 hours compared to the earlier 8 to 10 hours at prices as cheap as only USD 200," he said.

From the members of the Chamber, facilitation for exports of toys, rubber and issuance of Honorary Visas were requested to the Ambassador.

Meanwhile, in light of the 'Joint Vision Statement on India-Vietnam Defence Partnership towards 2030' signed last year by the Defence Ministers of the countries, the Chamber would like to establish linkages with Vietnamese agencies interested in collaborating in defence production and procurement, Naresh Pachisia, Senior Vice-President of the chamber said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)