Speaking at the event, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu said that regional connectivity toward developing the regional value chain is increasingly popular due to its important role today. — Photo VNA

NEW DELHI (Biz Hub) — India's Ministry of Commerce and Industry and the Confederation of India Industry held the third co-operation conference between India, Cambodia, Laos, Myanmar and Viet Nam (CLMV) in New Delhi from January 11 to 13.

Themed "India – CLMV regional integration: Developing regional value chain," the event focused discussions on measures to intensify economic integration connectivity and developing a value chain between India and CLMV countries.

According to Nirmala Shitharaman, Indian Minister of State for Commerce and Industry, trade between the two sides reached over US$11 billion, but potential has yet to be tapped fully.

She proposed establishing a project development fund to maintain production facilities in CLMV countries.

Speaking at the event, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu said that regional connectivity toward developing the regional value chain is increasingly popular due to its important role today.

Strengthening regional co-operation and co-operation between sub-regions has great significance for economic growth of not only member countries but also the whole region, Tu said.

He added that Viet Nam continually supports India's initiatives and proposals to boost the country's relations with ASEAN, including the one to speed up the signing of the Regional Comprehensive Economic Partnership (RCEP) agreement between ASEAN and its six partners countries, including India.

Ambassador Ton Sinh Thanh, leaders of Tay Ninh, Soc Trang, Tien Giang, Ninh Thuan and Ca Mau provinces and over 30 businesses operating in the fields of agriculture, fishery, transport, household appliances and building materials attended the conference. — VNS