Vietnam explores economic ties with North-East

Given the geographical proximity, Vietnam has been exploring business and trade ties with North-East India, of late. Vietnam's ambassador to India, Eu Kwang Dim, had an interaction with the local entrepreneurs at a Confederation of Indian Industry (CII) organised meet.

Sources said that Dim had classified tea, education and tourism as few potential sectors for bilateral trade and business relation between North-East India and Vietnam. Dim said that tea industry could look forward to exporting tea to Vietnam as the new generation was more inclined towards black tea over the green variety. Vietnam is a prominent producer of green tea, whereas India produces black tea.

Dim further said that India, having acquired good expertise in education and training sector, can look forward to invest in Vietnam's education sector. Tourism, he said was another potential sector where entrepreneurs from North-East could invest. He said there was little awareness of Vietnam as promising tourist destination among many Indians. He said direct air connectivity between eastern India and Vietnam could work wonders to promote tourism in both the countries- by increasing the flow of Indian tourists and for North-East India by bringing more Vietnamese tourists. Around 18,000 Indian tourists visited Vietnam in 2008.

Sources said that IT and IT training, agro and food processing, railway, energy and alternate energy, veterinary sciences manufacturing plant, tea processing machineries, textile machineries, power transmission and generation had been identified as few "potential growth areas" for Indian exports to Vietnam. The balance of trade has been heavily in favour of India for many years. Vietnamese exports to India have remained modest and suffered an increasing trade deficit with India, from $ 424.68 million in 2003 to $1.605 billion in 2008.