K Srikar Reddy, the Indian consul general in the city, said bilateral trade had grown more than 60 fold in the last two decades to 10.13 billion USD in 2016-17, noting that India is now among the top 10 trading partners of Vietnam.However, India exported paper worth 38.17 million USD to Vietnam last year, only 3.26 percent of its global exports, he said.India imported paper worth 2.7 billion USD, with just 7.78 million USD from Vietnam, he said.There is thus much scope to promote bilateral investment and trade ties in the sector, he added.Hoang Trung Son, vice chairman of the Vietnam Pulp and Paper Association, said the paper industry has seen outstanding growth of 11 percent a year and can meet 64 percent of demand.Last year Vietnam imported around two million tonnes of paper at 1.7 billion USD, mainly from Asian economies such as China, Taiwan, Indonesia, the Republic of Korea, and Japan.According to Son, Vietnam has started importing paper from India with the volume increasing year after year. Thanks to the Free Trade Agreement between ASEAN and India (AIFTA), the import tax on main paper lines is decreasing gradually, increasing the competitiveness of Indian paper.Son said the association believes that there is plenty of opportunity for cooperation between Vietnam and India in both paper production and trading.The meeting was attended by a delegation of 44 Indian companies belonging to the Federation of Paper Traders Association (FPTA).According to the FPTA, India’s paper demand is expected to grow by 6-7 percent… [Read full story]
Vietnam and India have targeted trade revenue of USD 7 billion in 2015, increasing to USD 15 billion by 2020. These goals were unveiled at the second meeting of the Vietnam-India joint subcommittee in Hanoi on January 20th. During the meeting both sides agreed to enhance strategic partnership, remove trade barriers, and facilitate investments in key industries such as oil and gas and garment and textiles towards the intended growth. They will continue to strengthen collaboration within the ASEAN – India framework and advance negotiations of the Regional Comprehensive Economic Partnership (RCEP). A centre for commerce and investment between ASEAN…... [read more]
These goals were unveiled at the second meeting of the Vietnam-India joint subcommittee in Hanoi on January 20. During the meeting both sides agreed to enhance strategic partnership, remove trade barriers, and facilitate investments in key industries such as oil and gas and garment and textiles towards the intended growth. They will continue to strengthen collaboration within the ASEAN – India framework and advance negotiations of the Regional Comprehensive Economic Partnership (RCEP). A centre for commerce and investment between ASEAN and India is expected to be developed soon. Addressing the function, Indian Commerce and Industry Deputy Minister Rajeev Kher affirmed…... [read more]
Vietnam and India have targeted trade revenue of USD7 billion in 2015, increasing to USD15 billion by 2020. These goals were unveiled at the second meeting of the Vietnam-India joint subcommittee in Hanoi on January 20th. During the meeting both sides agreed to enhance strategic partnership, remove trade barriers, and facilitate investments in key industries such as oil and gas and garment and textiles towards the intended growth. They will continue to strengthen collaboration within the ASEAN – India framework and advance negotiations of the Regional Comprehensive Economic Partnership (RCEP). A centre for commerce and investment between ASEAN and India…... [read more]
These goals were unveiled at the second meeting of the Vietnam-India joint subcommittee in Hanoi on January 20. During the meeting both sides agreed to enhance strategicpartnership, remove trade barriers, and facilitate investments in keyindustries such as oil and gas and garment and textiles towards theintended growth. They will continue to strengthencollaboration within the ASEAN – India framework and advancenegotiations of the Regional Comprehensive Economic Partnership (RCEP). Acentre for commerce and investment between ASEAN and India is expectedto be developed soon. Addressing the function, IndianCommerce and Industry Deputy Minister Rajeev Kher affirmed that Vietnamcontinues to be a pillar in his…... [read more]
Nguyen Son Ha, Vietnamese Trade Counsellor to India, says India is one of Vietnam’s top ten trade partners and the latter is the former’s fourth biggest trade partner within ASEAN. Bilateral trade increased threefold to US$5.24 billion in 2013 from just US$1.54 billion in 2007. Of the total, Vietnamese exports generated US$2.35 billion, up 13 times, and its imports were US$2.88 billion, a twofold increase. Vietnam and India are increasing their trade ties through a host of measures, including finalising the legal corridor for trade and investment facilitation. The Vietnam-India trade subcommittee meets every year to chart a course for…... [read more]
