Two-way trade between Vietnam and India is on an upward trend and likelyto reach the target of 15 billion USD by 2020, said Vo Tan Thanh,Director of the Ho Chi Minh City branch of the Vietnam Chamber ofCommerce and Industry.
At a workshop on the countries’ trade andinvestment cooperation opportunities on December 23, Thanh further saidVietnam is suffering from a considerable deficit in trade with India,thus the two sides need to devise effective measures to improve thetrade balance through supporting businesses, especially Vietnamese ones,in promoting trade and investment.
Indian Consul General in HCMCity Smita Pant said that once coming into force, the Trans-PacificPartnership (TPP) agreement will be an important bridge linking Vietnamwith partner countries, including India.
More and more Indiancompanies have noticed Vietnam as a potential market with a number ofmajor advantages and opportunities of regional and internationalintegration, she noted, adding that enterprises from her country arekeen on expanding credit, aviation, and tourism ties with Vietnam tofacilitate trade and investment activities.
During the first 11months of 2014, bilateral trade was posted at nearly 5.19 billion USD,of which Vietnamese exports to India were worth over 2.27 billion USD,according to the Ministry of Industry and Trade’s Africa, West and SouthAsia Markets Department.
Vietnam mainly ships mobile phones andcomponents, chemicals, textile fibre, coffee, and pepper to India whileimporting machinery and spare parts, pharmaceutical, cotton, steel,animal feed, and plastic materials.-VNA
At a workshop on the countries’ trade andinvestment cooperation opportunities on December 23, Thanh further saidVietnam is suffering from a considerable deficit in trade with India,thus the two sides need to devise effective measures to improve thetrade balance through supporting businesses, especially Vietnamese ones,in promoting trade and investment.
Indian Consul General in HCMCity Smita Pant said that once coming into force, the Trans-PacificPartnership (TPP) agreement will be an important bridge linking Vietnamwith partner countries, including India.
More and more Indiancompanies have noticed Vietnam as a potential market with a number ofmajor advantages and opportunities of regional and internationalintegration, she noted, adding that enterprises from her country arekeen on expanding credit, aviation, and tourism ties with Vietnam tofacilitate trade and investment activities.
During the first 11months of 2014, bilateral trade was posted at nearly 5.19 billion USD,of which Vietnamese exports to India were worth over 2.27 billion USD,according to the Ministry of Industry and Trade’s Africa, West and SouthAsia Markets Department.
Vietnam mainly ships mobile phones andcomponents, chemicals, textile fibre, coffee, and pepper to India whileimporting machinery and spare parts, pharmaceutical, cotton, steel,animal feed, and plastic materials.-VNA
