Receive Main Drivers For Ink Free Trade Agreement (FTA)
Vu Quang Diem, Ambassador of Vietnam to India, which recently revealed that bilateral trade between India and Vietnam are expected to ink a boost of free trade agreements (FTAs) with Association of Southeast Asia will (ASEAN).
The Memorandum of Understanding (MoU) between India and Vietnam in 2009 was an impetus for volumes between the two countries announced the trade. With such agreements have been signed between officials from both countries, India and Vietnam SMEs can reap significant benefits.
Currently, trade between India and Vietnam at a rate of 20% a year more in the year and is likely to increase short term. According to official estimates, trade in 2009 amounted to U.S. $ 2.055 billion between the two countries, where India has an export value of U.S. $ 1.635 billion.
Mobile phones, electronic components, parts, computer, coffee, minerals and other minerals are part of the export product of Vietnam’s largest, while the import basket includes pharmaceuticals, the steel, spare parts and ingredients of tobacco, including others. Given their import requirements, SMEs in India can serve the Vietnamese market and further contribute to strengthening bilateral trade relations.
At a meeting organized by the Bharat Chamber, showed Mr. Diem, who was an investment of U.S. $ 201.4 million for 41 projects of Indian companies in Vietnam have been made in 2009.
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