India-Vietnam trade rises 40%
(VOV) -Two-way trade turnover between Vietnam and India reached more than US$3.5 billion in the first eight months of this year, up 40.2% compared to the same period last year.
Of the total, Vietnam’s exports were valued at US$1.6 billion, according to the Ministry of Industry and Trade.
India is among Vietnam’s ten trade partners, with marked progress seen in trade, industrial, energy and investment cooperation.
Bilateral trade increased constantly with an average growth rate of 12.2% per year between 2008 – 2012, with exports growing by 46.3% per year and imports 1% per year.
Two-way trade hit a record high of US$3.94 billion in 2012, of which US$1.78 billion came from exports.
As of July, India had 73 investment projects in Vietnam with total registered capital of US$252.21 million, ranking it 30th out of 101 foreign investors in Vietnam.
Direct Indian investment in Vietnam primarily focuses on oil and gas, mining and agricultural product processing.