Indian, Vietnamese businesses to bring two-way trade to US$2 billion
Indian and Vietnamese businesses must look to sectors such as power, oil and gas, banking, insurance, tourism and technology to bring two-way trade to the US$2 billion mark this year.
The figure was released by Vietnam Chamber of Commerce and Industry (VCCI) Vice President Hoang Van Dung at a Vietnam-India business workshop in Hanoi on August 13.
The workshop, jointly run by the VCCI and India’s Bharat Chamber of Commerce (BCC), drew more than 40 Vietnamese and Indian businesses.
Two-way trade between Vietnam and India has seen an annual growth of between 20-30 percent since 2001 and it reached more than US$1 billion in 2006.
To promote bilateral ties, Deputy Head of the Industry Ministry’s Africa and Southwest Asia Department Tran Quang Huy said that the two countries’ businesses should understand their respective countries’ demands and exchange information on their countries’ trade, investment and tourism policies.
Vietnam will send a business delegation to conduct market research into India and to attend an international fair in the country in November. (VOVNews/VNA)
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