According to the Vietnamese ambassador to India, Nguyen Thanh Hai, West Bengal and Vietnam need to do a lot to expand their trade relations.

The diplomat mentioned this while speaking at a special session on West Bengal and Vietnam that was sponsored by the Bharat Chamber of Commerce. Although commerce between the two countries has reached USD 15 billion, it only represents 2% of Vietnam’s total worldwide trade volume.

When discussing the potential for building trade relations with West Bengal, Hai noted that the most vibrant industries have been recognised as aquaculture, seafood, chemicals, iron and steel, rubber, and tourism.

He believed that the two countries would benefit from a successful FTA.

400 industrial parks and 18 economic zones can be found in Vietnam. Corporate tax breaks are available to foreign investors. For the first four years, there will be no tax obligation for 15 years, he continued.

The ambassador expressed his opinions on the subject of connection between West Bengal and Vietnam and noted that there are 50 direct flights now operating between the two countries, with 14 of those flights connecting Kolkata with Ho Chi Minh City.

“Travelling between the nations now only takes 2 hours, compared to 8 to 10 hours in the past, at prices as low as only USD 200,” he claimed.The Chamber members asked the Ambassador to help facilitate the export of toys, rubber, and the granting of honorary visas.

In the meantime, the Chamber would like to express its support for the “Joint Vision Statement on India-Vietnam Defence Partnership towards 2030,” which the nations’ defence ministers signed last year. to build connections with Vietnamese organisations keen on working together on defence production and procurement, according to Naresh Pachisia, senior vice-president of the chamber.