Exports to India surge
(VOV) - Vietnam’s exports to India increased from US$95.9 million in 2005 to US$1.057 billion in the first eight months of this year.
According to the Africa-West Asia-South Asia Market Department under the Ministry of Industry and Trade, Vietnam and India have long established their traditional friendship and close cooperation in all fields.
The two countries have signed many agreements on trade, double tax avoidable, investment encouragement and protection, consul, and cultural cooperation, aviation and tourism. They have also signed other agreements on political consultancy, and cooperation in geology, environment and traditional medicine.
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Currently, India is one of Vietnam’s ten largest trade partners. Two-way trade turnover increased from US$72 million in 1995 to US$1.53 billion in 2007 when the two countries established strategic partnership and to US$3.9 billion in 2011.
Vietnam’s main export items in 2011 included mobile phones, machinery, equipment, steel, natural rubber, coal, coffee, pepper, means of transport, tools, computers, electronics and components, chemicals, plastics, ore and minerals, cashew nuts, wood and timber products, garments, cotton and cinnamon.