Vietnam and India are striving to increase their two-way trade value to US$15 billion by 2020. In 2017, Vietnam and India celebrated the 45th anniversary of diplomatic relations establishment and the 10th anniversary of strategic partnership. The bilateral relationship is now developing very well in all aspects of cooperation. Both sides have promoted cooperation in all fields namely politics – diplomacy, security – defence, economics, science – education, and culture – society. India is the 15th largest merchandise export market and the 10th largest import market of Vietnam. The bilateral trade value is stable, reaching over US$5.5 billion in 2016 and the trade performance is quite balanced. Agricultural products are a potentially good export to the Indian market as they carry high quality and reasonable prices. Electronics and computer accessories are also potential exports for Vietnam. India is now one of leading suppliers of textile and garment inputs for Vietnam, especially after 2010 when ASEAN-India Trade in Goods (AITIG) Agreement came into effect. On investment, India is now Vietnam’s largest FDI partner in Central and West Asia, with 164 projects and over US$755 million of investment capital, which mainly focus on processing, information technology and mining industries. It ranked 28th out of 116 countries and territories investing in Vietnam. Although the economic and trade relations between Vietnam and India have increased significantly over the time, they have not come up with political, diplomatic, security and defence relations nor matched up with the two countries’ potential. Mr Nguyen Xuan Trung from… [Read full story]
Vietnamese Minister of Industry and Trade Vu Huy Hoang and Cambodian Minister of Trade Cham Prasidh held talks in Phnom Penh on March 16th, agreeing to accelerate trade activities towards a target of 2 billion USD in turnover by 2010. During the talks, the two ministers reviewed the implementation of trade cooperation agreements and discussed obstacles on the way to reach the targets. The two sides agreed in principle to set up a coordination mechanism, probably a specialised board co-chaired by the two ministers, to deal with emerging issues in a timely manner. They agreed that the two countries should…... [read more]
During talks in Phnom Penh on March 16, the two ministers reviewed the implementation of trade cooperation agreements and discussed obstacles on the way to reach the set targets. The two sides agreed in principle to set up a coordination mechanism, probably a specialised board co-chaired by the two ministers, to deal with emerging issues in a timely manner. They agreed that the two countries should meet to revise existing regulations on customs procedures for transit goods and border gate management in order to facilitate goods transport and travel along their shared border. After the talks, the ministers signed the…... [read more]
* On the afternoon of November 13, General Cuong paid a courtesy call to Ms. Nirmala Sitharaman, Defense Minister of India, in New Delhi.Welcoming General Cuong and the Vietnamese delegates, Ms. Sitharaman underlined that the Vietnamese visit will cement their bilateral traditional relationship. She highly spoke of Vietnam’s role and contributions to the region in various fields, adding that Vietnam and India should continue to uphold recorded defense cooperation outcomes and to carry out signed agreements, including the Declaration on Joint Vision on Vietnam-India Defense Cooperation for the 2015-2020 period.For his part, General Cuong thanked Ms. Sitharaman for the reception and…... [read more]
President Sang made the proposal on November 12 while meeting with his Chilean counterpart Sebastian Pinera on the sidelines of the 19th Asia Pacific Economic Cooperation Forum (APEC) summit in Hawaii, USA. Mr Sang thanked Chile for its fine sentiments towards Vietnam in the past and expressed hope to strengthen ties with the South American country. Although Vietnam and Chile established diplomatic ties 40 years ago, trade cooperation is not on par with their potential. President Sang also invited his counterpart to visit Vietnam in the future. The Chilean President expressed his delight at the strong developments in Vietnam-Chile relations…... [read more]
Both Vietnam and India need to take advantage of their strengths to boost all-round cooperation and bring their friendship and strategic partnership to a higher level. Indian and Vietnamese navies eager for cooperation President Truong Tan Sang made this statement on May 22 in Hanoi while receiving a delegation from the India-Vietnam Solidarity Committee, led by its President Geetesh Sharma. The Vietnamese President said he believes the Indian delegation’s visit will contribute to strengthening the time-honoured friendship and cooperation between the two nations. Their bilateral relationship has made great strides in recent years, especially after they officially established a strategic…... [read more]
