Vietnam’s total trade turnover with countries in South Asia last year reached USD6.2 billion, posting a 30 percent increase over the previous year.
Workers arrange steel pipe at a domestic port Figures from the Ministry of Industry and Trade's market department for Africa, West Asia and South Asia showed that bilateral trade between Vietnam and the region had a higher growth rate than others.
Vietnam’s export turnover to the region was estimated at USD3.25 billion, increasing 35 percent against 2012′s imports worth USD2.95 billion, representing a 20 percent year-on-year increase.
In the region, India was Vietnam’s largest trade partner, with an average export turnover growth rate of 40 percent in the past five years. Since the signing of the ASEAN-India Trade in Goods Agreement (AITIG), the two countries’ trade turnover saw a continuous increase.
Vietnam’s key exports to India have been diversified with increased value.
Vietnamese industrial products including telephones, spare parts, machines, computers, electronics and their accessories accounted for a high percentage of exports to India.
The total export turnover of these products last year was USD1.5 billion, accounting for 70 percent of the country’s total exports to India.
Export turnover to Pakistan also saw an average rise of 20 percent per year in the period 2011-12. Pakistan mainly imported tea, pepper, seafood, cashew and steel from Vietnam, with turnover of USD181 million, increasing 4 percent in comparison with the year 2012.
Pakistan’s exports to Vietnam saw a 34 percent decline over the previous year as Vietnam reduced imports of products that serve the garment and textiles, leather shoes and cotton industries.
Statistics from the General Department of Customs also revealed that last year’s total bilateral trade turnover between Vietnam and Sri Lanka had reached USD155 million.
Vietnam’s staple exports to the country were cotton, rubber, electric cables, mobile phones and spare parts. Its imports included cattle food, materials for making leather shoes, and pepper.
For Bangladesh, Vietnam’s total export turnover last year was more than USD500 million, surging 42 percent over 2012. All of the exported items including cotton, garments and textiles, machines and spare parts saw an increase in the growth rate.
However, investment co-operation between Vietnam and the region was still limited in comparison with other regions.
By the end of last year, India had 77 projects invested in Vietnam, with total capital of USD250 million, while Sri Lanka had 9 projects; Pakistan, 10 projects; and Bangladesh, 2 projects.
Vietnamese businesses invested in only three projects in India, with total capital of USD860,000, and invested in one project in Bangladesh.
Vietnam and countries in the region have targeted strengthening their multi-faceted co-operation efforts in the future to better exploit their full potential.
Đăng ký: VietNam News