Nghe An connects trade to promote exports to the Indian market

Attending the online conference were Mr. Bui Trung Thuong - Vietnam Trade Counselor in India; Mr. Pham Van Hoa - Director of the Department of Industry and Trade; representatives of the Department of Foreign Affairs, VCCI branch in Nghe An, provincial business associations, import-export enterprises, and individual business households in the province.

The conference was attended by Mr. Bui Trung Thuong - Vietnam Trade Counselor in India, who directly shared information and things to consider when importing and exporting to the Indian market.

At the conference, businesses interacted and discussed directly with the Counselor about difficulties and obstacles in the import-export process with Indian partners.

Delegates attending the conference at the Department of Industry and Trade bridge point. Photo: TH

In 2020 and the first months of 2021, the Covid-19 situation was very complicated in Vietnam and many countries around the world. Production and business activities, especially import and export, encountered many difficulties, disrupting domestic and international supply chains.

However, with the efforts of the political system, the initiative and creativity of import-export enterprises, in the first 10 months of 2021, the total export turnover is estimated at 1.3 billion USD, an increase of 46% over the same period in 2020, reaching and exceeding 8.3% of the plan target; of which goods export reached more than 1 billion USD, an increase of 58.5%, reaching and exceeding 13.4% of the yearly plan..

Textile and garment is one of the sectors with good export turnover of Nghe An in recent times. Photo: Thu Huyen

Among 120 export markets, India is an important and potential market for Nghe An's export enterprises. Of more than 200 import-export enterprises, nearly 40 enterprises export to the Indian market. The two countries' participation in the signing of the ASEAN-India Free Trade Agreement and India's recent recognition of Vietnam as a country with a full market economy, expanding the legal framework for trade activities between the business communities of the two sides, creating conditions for Vietnamese goods in general and Nghe An in particular to promote their competitive advantages in the Indian market.

According to statistics, the total two-way import-export turnover in 2020 between Nghe An and India reached 84.3 million USD, an increase of 23.2% compared to 2010. Of which, the export turnover to this market reached 25.7 million USD in 2020 and 25.6 million USD in the first 9 months of 2021, accounting for 3-4% of the province's total export turnover.

Director of the Department of Industry and Trade - Mr. Pham Van Hoa spoke at the conference. Photo: TH

Nghe An's export items to India are quite diverse and rich. Among them,main export items, has potential and strength in both output and quality, the grade of exported goods to India is superfine white limestone powder, pine essential oil, plastic additives,... imported machinery and equipment, steel of all kinds, textile and footwear raw materials.

In the future, by participating in online trade conferences with countries such as China, India, Japan, Korea, the United States, etc. or online conferences connecting with Vietnamese counselors abroad, the industry and trade sector will continue to support businesses in maintaining uninterrupted connections with target export markets. These activities help businesses learn about trends, developments, market demand, market research and information about competitors without spending much time and money.

Mr. Pham Van Hoa - Director of Department of Industry and Trade