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| Rubber is one Vietnamese products exported to India. — Photo baothaibinh.com.vn |
HA GIANG (Biz Hub) — Trade co-operation has become an important mainstay in the Viet Nam – India bilateral relationship, with both being fast-growing economies in Asia.
The statement was made by first secretary of the Indian Embassy in Viet Nam John H. Ruolngul at a conference in northern Ha Giang Province on Thursday.
He said that Viet Nam was regarded as an important pillar in India's "Look East" Policy and its government has always attached great importance to accelerating co-ordination with this Southeast Asian country.
Meanwhile, India remained one of Viet Nam's top 10 trade partners, he noted during the forum on the two countries' trade potentials.
Also at the event, domestic enterprises from 28 northern provinces shared co-operation opportunities with Indian partners while information on Indian businesses who wished to invest in Viet Nam was also provided.
Two-way trade had significantly increased in recent years. Trade reached US$3.94 billion over the past nine months of this year, up 39 per cent year-on-year or nearly equivalent to the figure for the whole of 2012.
During the January-September period, Viet Nam exported $1.84 billion worth of goods to India, up 49.6 per cent, while its imports from India reached $2.1 billion, up 31.2 per cent.
Among Viet Nam's key export items to the market are agricultural goods, wood and wooden goods, chemicals, seafood, textile and garment and handicrafts.
The Vietnamese Trade Office in India predicted that bilateral trade turnover would surpass $5 billion by year's end, and $7 billion by 2015.
In terms of investment, as of September, India had 73 valid investment projects in Viet Nam with capital totalling over $253 million, ranking 28th among 92 countries and territories investing in the country. — VNS