Vietnam and India are working closely together to achieve theirbilateral trade target of 15 billion USD by 2020, a Vietnam Chamber ofCommerce and Industry bigwig has said.
Speaking at aVietnam-India business meeting in Ho Chi Minh City on July 14, Vo TanThanh, director of the VCCI's HCM City office, said trade between thetwo countries had increased sharply in recent years, going up from 1billion USD in 2006 to 8 billion USD last year.
Vietnam's keyexports to India include mobile phones, rubber, cashew, porcelain, ironand steel, and wooden products, while it imports cars, drugs, garmentand textile feedstock, chemicals, machinery, building materials, andothers.
India is now one of Vietnam's top 10 trading partners while the latter ranks 28th for India.
Asof June, India ranked 30th among 103 countries and territoriesinvesting in Vietnam, with nearly 380 million USD in 100 projects.
Vietnamese companies have invested around 26 million USD in India.
SmitaPant, the Indian consulate general in HCM City, said there was greatpotential for cooperation in many sectors, including tourism, betweenthe two countries.
"There is an increasing interest in holidaytourism from India to Vietnam and in medical and spiritual tourism fromVietnam to India."
A delegation representing more than 20 Indiancompanies seeking business opportunities in Vietnam took part in theevent held at the VCCI.
They operate in the cement, property,power, infrastructure development, bio-technology, jewellery,agricultural machinery, tourism, and consultancy sectors.
"Whenwe think of Vietnam we must look into a market of ASEAN economiccommunity of over 600 million, TPP, FTA with number of countries andregions including EU and Custom Union. Therefore our advice is to movebeyond trade and look into investment," Pant said.
"Vietnamese also need to look at India's vast market," she said.
Atthe event, the VCCI and a business group from an Indian state calledthe Andhra Chamber of Commerce signed a memorandum of understanding toenhance exchange of knowledge and information.
V.L Indira Dutt,Chairwoman of the ACC, said: "India now ranks among the most attractiveinvestment destinations and the investment activity is grounded onstronger footing.
"With such a positive prevailing economicenvironment, I am sure, investors from Vietnam would be nothing butenthused to travel to India. There has been a boom in retail, e-commerceand a great advancement in technology."-VNA
Speaking at aVietnam-India business meeting in Ho Chi Minh City on July 14, Vo TanThanh, director of the VCCI's HCM City office, said trade between thetwo countries had increased sharply in recent years, going up from 1billion USD in 2006 to 8 billion USD last year.
Vietnam's keyexports to India include mobile phones, rubber, cashew, porcelain, ironand steel, and wooden products, while it imports cars, drugs, garmentand textile feedstock, chemicals, machinery, building materials, andothers.
India is now one of Vietnam's top 10 trading partners while the latter ranks 28th for India.
Asof June, India ranked 30th among 103 countries and territoriesinvesting in Vietnam, with nearly 380 million USD in 100 projects.
Vietnamese companies have invested around 26 million USD in India.
SmitaPant, the Indian consulate general in HCM City, said there was greatpotential for cooperation in many sectors, including tourism, betweenthe two countries.
"There is an increasing interest in holidaytourism from India to Vietnam and in medical and spiritual tourism fromVietnam to India."
A delegation representing more than 20 Indiancompanies seeking business opportunities in Vietnam took part in theevent held at the VCCI.
They operate in the cement, property,power, infrastructure development, bio-technology, jewellery,agricultural machinery, tourism, and consultancy sectors.
"Whenwe think of Vietnam we must look into a market of ASEAN economiccommunity of over 600 million, TPP, FTA with number of countries andregions including EU and Custom Union. Therefore our advice is to movebeyond trade and look into investment," Pant said.
"Vietnamese also need to look at India's vast market," she said.
Atthe event, the VCCI and a business group from an Indian state calledthe Andhra Chamber of Commerce signed a memorandum of understanding toenhance exchange of knowledge and information.
V.L Indira Dutt,Chairwoman of the ACC, said: "India now ranks among the most attractiveinvestment destinations and the investment activity is grounded onstronger footing.
"With such a positive prevailing economicenvironment, I am sure, investors from Vietnam would be nothing butenthused to travel to India. There has been a boom in retail, e-commerceand a great advancement in technology."-VNA
