Vietnam is one of the key factors in India’s “Look East” policy affirmed Indian Ambassador to Vietnam Ranjit Rea.
At a seminar on opportunities for exports to the Indian market, held in Hanoi on Dec. 23, Ambassador Ranjit Rea said India would do its utmost to support and create favourable conditions for Vietnamese businesses to export to India.
India will provide Vietnamese exporters with free-of-charge pavilions at the first India-ASEAN Business Fair slated for March 2011, said the Indian diplomat.
In the 2011-2012 fiscal year, India will actively implement measures to promote trade in Vietnam and encourage Vietnamese businesses to open representative offices in India.
According to Ranjit Rea, India has always been one of Vietnam’s top 10 trade partners in recent years. Two-way trade reached 2.3 billion USD in the first 11 months of the year, with Vietnam’s exports to India representing more than 863 million USD, a year-on-year rise of 39 percent.
Vietnam’s trade deficit with India has decreased from 1.58 billion USD in 2008 to 657 million USD in the past 11 months.
Apart from agricultural products, Vietnam has diversified its export items to India – clear evidence of positive impacts of the India-ASEAN free trade agreement on the two countries’ bilateral trade.
Ranjit Rea also suggested Vietnamese businesses export products like cement, floor tiles and electronic products that are in high demand in India.
For his part, Deputy Minister of Industry and Trade Nguyen Thanh Bien emphasised the importance of exchanging information on the two countries’ trade policies.
He said he hoped both countries would open a direct air route in the near future./.
At a seminar on opportunities for exports to the Indian market, held in Hanoi on Dec. 23, Ambassador Ranjit Rea said India would do its utmost to support and create favourable conditions for Vietnamese businesses to export to India.
India will provide Vietnamese exporters with free-of-charge pavilions at the first India-ASEAN Business Fair slated for March 2011, said the Indian diplomat.
In the 2011-2012 fiscal year, India will actively implement measures to promote trade in Vietnam and encourage Vietnamese businesses to open representative offices in India.
According to Ranjit Rea, India has always been one of Vietnam’s top 10 trade partners in recent years. Two-way trade reached 2.3 billion USD in the first 11 months of the year, with Vietnam’s exports to India representing more than 863 million USD, a year-on-year rise of 39 percent.
Vietnam’s trade deficit with India has decreased from 1.58 billion USD in 2008 to 657 million USD in the past 11 months.
Apart from agricultural products, Vietnam has diversified its export items to India – clear evidence of positive impacts of the India-ASEAN free trade agreement on the two countries’ bilateral trade.
Ranjit Rea also suggested Vietnamese businesses export products like cement, floor tiles and electronic products that are in high demand in India.
For his part, Deputy Minister of Industry and Trade Nguyen Thanh Bien emphasised the importance of exchanging information on the two countries’ trade policies.
He said he hoped both countries would open a direct air route in the near future./.
