Vietnam, India target $7 billion trade in 2015

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As bilateral trade ties between them are developing well, Vietnam and India will likely meet their target of US$7 billion in 2015, Vietnamese Trade Counselor to India Nguyen Son Ha has said.

Last year, Vietnam – India’s fourth largest trade partner in the Association of Southeast Asian Nations – shipped $2.3 billion worth of goods to India, and the two-way trade reached $5.2 billion, much higher than the $1.5 billion trade in 2007, Ha said.

India, one of Vietnam’s top ten trade partners, has recognized the country as a full market economy. The two nations signed a slew of agreements, notably the ASEAN – India Trade in Goods Agreement, making it easier for their goods to enter each other’s markets, the trade counselor said.

In addition, a Joint Sub-Committee on Trade between the Vietnamese Ministry of Industry and Trade and the Indian Ministry of Commerce and Industry meets every year to discuss measures to boost bilateral economic, trade, and investment cooperation.

The two countries, which established the strategic partnership in July 2007, have encouraged investments in the private sector and offered all possible support to open representative offices and branches in each country.

The two sides are considering a plan to grant long-term visas to their businesspeople, while a direct air route is also expected to open soon to facilitate trade, tourism, and cultural exchanges.

September 2019

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2019.09.15 Annual Badminton Tournament by InCham Hanoi

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[Supported Event] – Vietnam LNG-to-power Summit 2019

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[Supported Event] – Vietnam LNG-to-power Summit 2019

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