During the Vietnam Foodexpo 2023, the Vietnam Trade Office in India coordinated with the Indian Chambers of Commerce and Industry (FICCI) and the Federation of Indian Export Organizations (FIEO) and organized an Indian business delegation to attend.

Vietnam Foodexpo 2023 is held at the Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City on November 22-25. The event features more than 500 booths of nearly 400 domestic and international enterprises, including businesses from 30 Vietnamese cities and provinces and over 20 countries and territories such as the US, Russia, Australia, China, the Republic of Korea, and Japan.

The Vietnam Trade Office in India has coordinated to organize an Indian business delegation to attend Vietnam Foodexpo 2023. Source: congthuong.vn

According to Bui Trung Thuong, Vietnamese Trade Counselor in India, the Indian business delegation had more than 30 participating businesses, of which, more than 20 businesses participated in organizing exhibition booths at the expo and 14 businesses participated in the exhibition. They participated the fair as international buyers and visitors.

At Vietnam Foodexpo 2023, Indian businesses display products that Vietnam needs to import to serve the domestic manufacturing industry such as raw materials and accessories for animal feed production, rice, corn, peanuts, and cereal products, frozen meat and spices.

Currently, India is the leading producer and exporter of agricultural products and is also a country that imports a large amount of agricultural products and processed foods to meet domestic demand. Therefore, Commercial Counselor Bui Trung Thuong said that the participation of Indian businesses in the expo aims to provide a reliable source of supply for Vietnamese businesses for products such as rice, corn, raw materials for animal feed production, and buffalo meat.

At the same time, the event is also an opportunity for Vietnamese businesses to reach buyers from India for Vietnam's potentially strong processed food products.

This is an opportunity for Vietnamese businesses to reach buyers from India for Vietnam's strong processed food products. Source: congthuong.vn

The Vietnam Trade Office in India emphasized that trade is an important pillar in bilateral relations between the two countries and has grown steadily over the past 20 years. Bilateral relations have increased from about USD 200 million in 2000 to USD 15 billion in 2022. In the first 10 months of 2023, export turnover from Vietnam to India has positive growth with a turnover of USD 7 billion, an increase of nearly 5% compared to the first 10 months of 2022.

This result has made India one of Vietnam's top eight trading partners, while Vietnam is in the top four ASEAN countries that have trade relations with India.

"Bilateral trade between the two countries is relatively balanced and complements each other quite well," said Bui Trung Thuong, adding that India is an important source of raw materials and finished products for Vietnam. with iron and steel products, chemicals, pharmaceuticals, textiles, animal feed, and seafood. Meanwhile, Vietnam's top export product group to India is personal computers; mobile phones and components, iron and steel, chemicals, wood and wood products, shoes, spices, coffee, and pepper.

Last week, the Consulate General of India in HCM City in coordination with the Investment and Trade Promotion Centre of HCM City (ITPC), organized the India Business Forum - HCM City 2023.

As of October 2023, India has 237 investment projects with a total capital of more than USD 130 million, ranking 23rd among 120 countries and territories investing in HCM City.

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