Business
Strengthening Vietnam - India cooperation in various fields
Head of Vietnam’s trade mission in India Bui Trung Thuong said that Vietnam and India will promote cooperation in potential sectors such as garment and textile, machinery, agriculture, and health and pharmaceuticals.
Vietnam may be one of India’s markets for automobiles, machinery, spare parts and equipment, having greeted representatives from Tata Motors, Mahindra, Eicher and Escort companies who sought to discuss partnerships.
India has been an important provider of materials for Vietnam’s garment and textile industry, especially after the ASEAN-India Trade in Goods Agreement ( AITIG ) took effect in 2010, with India’s export in the field to Vietnam reaching 402 million USD in 2015, according to Head of Vietnam’s trade mission in India Bui Trung Thuong.
In the agricultural sector, Vietnam and India also signed a Memorandum of Understanding (MoU) on cooperation in veterinary and an agreement on building tra fish farms. The two sides also exchanged information on plant quarantine and sanitary standards to boost export of products of animal origins, he added .
The two nations will continue cooperation in agriculture, especially in biotechnology, gardening, post-harvest technology and agricultural mechanization, the official noted.
India has strengths in healthcare and pharmaceuticals and it sold medicines and pharmaceuticals worth 2.3 billion USD to Vietnam in 2015. Vietnam and India are working together in the application of information technology in control and prevention of new diseases and strengthening population work and family planning.
The strong development in trade recorded in recent years has yet showed the two countries’ potential, Thuong said.
The trade representative expressed his hope that the two sides will solve some remaining problems such as removing tariff barriers, helping enterprises invest in the respective country and providing assistance in addressing problems in the implementation of projects.
The General Department of Vietnam Customs said the bilateral trade value increased from 1.01 billion USD in 2006 to 5.56 billion USD in 2015, in which Vietnam’s export to India rose 18 times, from 138 million USD in 2006 to 2.47 billion USD in 2015.
India has been an important provider of materials for Vietnam’s garment and textile industry, especially after the ASEAN-India Trade in Goods Agreement ( AITIG ) took effect in 2010, with India’s export in the field to Vietnam reaching 402 million USD in 2015, according to Head of Vietnam’s trade mission in India Bui Trung Thuong.
Vietnam and India will continue cooperation in agriculture, especially in biotechnology and gardening.
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The two nations will continue cooperation in agriculture, especially in biotechnology, gardening, post-harvest technology and agricultural mechanization, the official noted.
India has strengths in healthcare and pharmaceuticals and it sold medicines and pharmaceuticals worth 2.3 billion USD to Vietnam in 2015. Vietnam and India are working together in the application of information technology in control and prevention of new diseases and strengthening population work and family planning.
The strong development in trade recorded in recent years has yet showed the two countries’ potential, Thuong said.
The trade representative expressed his hope that the two sides will solve some remaining problems such as removing tariff barriers, helping enterprises invest in the respective country and providing assistance in addressing problems in the implementation of projects.
The General Department of Vietnam Customs said the bilateral trade value increased from 1.01 billion USD in 2006 to 5.56 billion USD in 2015, in which Vietnam’s export to India rose 18 times, from 138 million USD in 2006 to 2.47 billion USD in 2015.
