A teleconference to facilitate Vietnamese businesses’ trade promotion in India was held on September 26 both in Hanoi and New Dehli.
Head of the African-West and South Asian Market Department under the Ministry of Industry and Trade Tran Quang Huy said the event helped businesses of both countries seek partners as well as provided information related to trade policies and the ASEAN-India Agreement on Trade in Goods.
According to the ministry’s statistics, India has become one of Vietnam’s top ten trade partners with two-way trade increasing by 12.2 percent a year on average in the 2008-2012 period. The figure in the first seven months of this year hit 3.02 billion USD.
More high added-value Vietnamese products are entering the India market, including mobile phones, computers, electronic products and components, material plastic and steel embryo apart from traditional commodities like pepper, rubber and footwear, Huy said, adding that this will help narrow the trade balance in the coming time.
General Head and General Director of the Federation of Indian Export Organisations Ajay Sahai said the ASEAN-India Free Trade Agreement, which was effective in 2010, has created a favourable legal foundation for Vietnamese exports to India .
India’s recognition of Vietnam as a full market economy has also contributed to facilitating Vietnam’s exports to the South Asian market, the one with many protection barriers and regular use of trade safeguarding tools, he added.
He said he believes that the future signing of the Trade And Service Agreement and the Investment Agreement between ASEAN and India will further boost the two countries’ economic ties.-VNA
Đăng ký: VietNam News
