Aug 23, 2023

Restricted mkt access in public procurement for Indian pharma firms raised with Vietnam

India has flagged issues of restricted market access in public procurement of drugs for Indian pharmaceutical companies in Vietnam, an official statement said on Tuesday.

The issue was raised during the India-Vietnam Joint Trade Sub-Commission (JTSC) meeting, which was held here. This meeting was held after a gap of more than four years. The last meeting was held in January 2019.

India also flagged issues with regard to high anti-dumping duties imposed on Indian polyester filament yarn products and sorbitol.

In the meeting, the commerce ministry said that both sides reviewed the progress on bilateral trade and economic cooperation, and discussed ways to unlock the vast untapped potential in bilateral trade.

The countries identified potential sectors such as agriculture, fisheries, textiles, footwear, pharmaceutical, chemicals, fertilizers, machinery and equipment, consumer products, energy and automobile industry, for expanding trade cooperation.

They also agreed to work together to resolve market access issues and technical barriers faced by the exporters through regular and sustained bilateral discussions, it said.

''The Indian side raised the issues of pending registration of Indian fishery and meat establishments for export, restricted market access in public procurement of drugs for Indian pharmaceutical companies,'' the ministry said.

Further, India suggested Mutual Recognition Agreements (MRAs) on professional services, the internationalisation of RuPay card, QR (quantitative restriction) based payment systems, and domestic currency trade settlement.

''Both sides discussed logistics challenges affecting bilateral trade and agreed to continue efforts for exploring direct shipping services, collaboration in freight movement and improving air connectivity,'' it said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)