At the 5th Meeting of the Joint Subcommittee on Trade, delegations from both countries reviewed initiatives to strengthen trade related to consumer products, energy and the auto industry, All India radio news reported.

During the meeting, chaired by Commerce Department Assistant Secretary Rajesh Agrawal and Trade and Industry Deputy Minister Phan Thi Thang, participants agreed to work together to resolve market access issues and technical barriers.

The Indian side raised the issues of the pending registration of its fishing and meat establishments for export, restricted market access in government procurement of medicines for its pharmaceutical companies, and high anti-dumping duties imposed on its polyester filament yarn products and sorbitol.

It also highlighted the potential in service sector cooperation, and suggested cooperation in information technology, financial services, education, tourism, health care, telemedicine, medical tourism and start-up ecosystem, and suggested mutual recognition agreements on professional services, internationalization of RuPay cards, payment system based on QR codes and trade settlement in the respective national currencies.

The delegations also discussed the logistical challenges affecting bilateral trade and agreed to continue efforts to explore drop shipping services, collaboration in cargo movement and improve air connectivity.

Vietnam is India’s 23rd largest trading partner, and fifth among the Association of Southeast Asian Nations (ASEAN) countries.

It is also an important destination for iron and steel and agri-food products such as meat, feed, cereals and marine products.

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