Expanding Trade Opportunities Between Vietnam and Nepal
Article Rewrite:
🌏 Vietnam and Nepal: Stepping Up Trade Game 💰
New Delhi's Jawaharlal Nehru University professor, Archana Upadhyay, points to a golden opportunity for Vietnam and Nepal to beef up their bilateral trade.
In an exclusive chat with our news outlet on the 50th anniversary of diplomatic ties between the two nations (May 15, 1975 - 2025), Upadhyay brings up the strong bond shared by these countries, a relationship that has weathered five decades.
Centered around religion, education, people-to-people exchange, business, trade, and investment, this bond exemplifies the enduring friendship between Vietnam and Nepal. The cornerstone of this bond? People-to-people diplomacy. No surprise there, as the connection runs deep and steady among the communities.
Vietnamese people in Nepal may be few in number, but they're gaining ground. More and more of them are venturing to Nepal for marriage, studies, or a taste of Buddhism - whether for scholarly pursuits or sightseeing. And the blooming friendship associations? A clear indicator of just how intertwined these nations have become.
But that's not all. The late President Ho Chi Minh's legacy continues to inspire hope in Nepal and the Indian subcontinent as a whole. For several generations, his story has cemented the bond between these nations even stronger.
Upadhyay also acknowledges the vital role of Vietnamese expats in Nepal. They're known for supporting local authorities and showing goodwill in aiding Nepal's growth, fostering cooperation between the two countries.
In her opinion, the people-first approach and official ties between the two countries have remained a constant comfort and support system. During crises like the COVID-19 pandemic, earthquakes, and floods, Nepal has received swift and warm assistance from Vietnam. This mutual fellowship is also reflected in their joint work at global and multilateral platforms.
The professor sees Vietnam's impressive economic development trajectory as a valuable resource for Nepal to learn from. This newfound knowledge could spark a fresh wave of economically beneficial cooperation between the two countries, creating a win-win situation. 💼
Professor Archana Upadhyay from the School of International Studies at Jawaharlal Nehru University in New Delhi, India. VNA/VNS Photo
🔍 Under the Microscope 🔭🔦While Upadhyay emphasizes the potential for strengthening trade between Vietnam and Nepal, she doesn't delve into specific opportunities. With a closer look, we can identify a handful of areas ripe for exploration:
- Cultural and Educational Exchanges: With more and more Vietnamese flocking to Nepal for cultural and educational experiences, the groundwork for trade opportunities is laid.
- People-to-People Diplomacy: Boosting connections between the two communities can lead to broader trade promotion.
- Tourism Cooperation: Surging interest in visiting Nepal from Vietnam creates a chance to boost the tourist industry, indirectly driving trade.
- Establishing Direct Air Connectivity: Improved airline routes can make travel smoother and more accessible, effectively boosting tourism and trade.
- Legal Frameworks and Investment: The finalization of legal agreements, such as Trade and Investment Framework Agreements and Memorandums of Understanding, will create a structured approach for enhancing trade and investment opportunities between Vietnam and Nepal. 💼
- Professor Archana Upadhyay from the School of International Studies at Jawaharlal Nehru University in New Delhi, India, believes that education and research could pave the way for increased trade between Vietnam and Nepal, as more Vietnamese students are seeking opportunities for scholarly pursuits and cultural experiences in Nepal.
- Diplomacy plays a crucial role in driving trade between Vietnam and Nepal, according to Upadhyay, with direct air connectivity and legal frameworks for investment being key factors in enhancing bilateral ties and creating a more conducive environment for business expansion.
- The government of both Vietnam and Nepal can encourage and support research efforts to explore the potential for artificial intelligence (AI) collaboration, which could lead to innovative and mutually beneficial trade opportunities in sectors like technology and industry.
- In the aftermath of the pandemic, there may be a need for both countries to prioritize education-and-self-development initiatives, focusing on rebuilding and adapting to the new normal while fostering continued economic growth and strengthening trade relationships.
