Enhancing business! India confirms trade with Vietnam grow steady at $ 12.34 bn

New Delhi, October 21: Catering to the COVID-19 situation and bilateral trade call together, the India Vietnam Business Forum was organised virtually on Tuesday/ Speaking on the occasion, Secretary, EAM, Riva Ganguly Das reaffirmed the growing bilateral trade and investment ties between India and Vietnam. She said, trade between India and Vietnam has grown steadily and presently stands at 12.34 billion dollars in 2019-20.

 

 

Export basket from India to Vietnam includes bovine meat, fishery products, corn, steel, pharmaceuticals, cotton, machinery while imports from Vietnam include mobile phones, electrical machinery and equipment, computers, electronic hardware, natural rubber, chemicals, and coffee.

 

In line with the comprehensive strategy of the Vietnamese Government to promote the cooperation between the two nations, the Vietnam-India Business Forum had been officially established since 2010 under the approval of Prime Minister of Vietnam. This is a long-term program with the aim to promote investment and trade relationship between Vietnam and India.

The Forum will create an active mechanism for further cooperation between Vietnam and India and enhance mutual relationship for the prosperity, development and friendship of our two nations. It will be a bridge for enterprises, business associations and other concerned agencies to exchange information regularly on policies related to economic trade and investment cooperation between Vietnam and India.

 

Besides, the Forum will collect and study the views and suggestion of business enterprises doing business with the Vietnam and India for reflection, recommendation and advice the two State on legal matters and economic policies to solve difficulties/disputes arising in bilateral ties.