The potential market in India , home to the world’s second largest population, was the major theme of a conference in the northern province of Thai Binh on May 25.
The event was aimed at helping local businesses exploit the benefit of the ASEAN-India Free Trade Agreement (FTA) which took effect last year.
The deal removes tariff barriers on electric appliances, chemicals, machines and textile-garment products which account for 80 percent of bilateral exports.
As a result, many Vietnamese products such as rubber, computer components, electrics, garments and textiles found their way into the Indian market.
The FTA is also expected to help Vietnamese businesses gain access to lower-cost materials from India . Over 90 percent of Vietnam ’s imports from India are input materials.
At the get-together, representatives from the Indian Chamber of Commerce briefed local businesses on India’s customs procedures and import-export policies while the provincial leaders introduced the local business environment and its projects calling for investment./.
The event was aimed at helping local businesses exploit the benefit of the ASEAN-India Free Trade Agreement (FTA) which took effect last year.
The deal removes tariff barriers on electric appliances, chemicals, machines and textile-garment products which account for 80 percent of bilateral exports.
As a result, many Vietnamese products such as rubber, computer components, electrics, garments and textiles found their way into the Indian market.
The FTA is also expected to help Vietnamese businesses gain access to lower-cost materials from India . Over 90 percent of Vietnam ’s imports from India are input materials.
At the get-together, representatives from the Indian Chamber of Commerce briefed local businesses on India’s customs procedures and import-export policies while the provincial leaders introduced the local business environment and its projects calling for investment./.
