Thursday, December 13 2018

VietNamNews

Nation cements tighter trade ties with India

Update: November, 16/2013 - 09:23
Viet Nam mainly imports corn, animal feed, medicine, iron and fabric from India while exporting computers and mobile phones, machinery, coffee and rubber.— File Photo

NEW DELHI (VNS)— Vietnamese and Indian entrepreneurs came together at a business forum in New Delhi yesterday to discuss the investment climate and opportunities in both countries.

Le Thai Hoa, deputy head of the Department of Africa, West Asia and South Asia Markets under the Vietnamese Ministry of Industry and Trade, highlighted the traditional friendship between Viet Nam and India first set up by late President Ho Chi Minh and Indian Prime Minister Jawaharlal Nehru.

He noted that both countries had signed a number of co-operation agreements on trade, double taxation avoidance and promoting investment stimulation.

The two parties released a joint statement on a comprehensive co-operation framework for the 21st century and sealed a Memorandum of Understanding recognising Viet Nam's market economy.

India is one of Viet Nam's key economic partners, with two-way trade recorded at over US$3.9 billion in the first nine months of this year.

Viet Nam mainly imports corn, animal feed, medicine, iron and fabric from India while exporting computers and mobile phones, machinery, coffee and rubber.

However, bilateral exchanges have yet to match potential, Hoa said, suggesting that local authorities from the two countries actively realise the terms set in co-operation documents, especially the ASEAN-India Free Trade Agreement, in order to create favourable conditions for their respective enterprises.

Businesspeople of both nations should increase exchanges to seek partners and partake in trade fairs and exhibitions, Hoa added.

Participating businesses took the occasion to introduce themselves to potential partners and learn the latest news about the business environment. — VNS

Send Us Your Comments:

See also: