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Better use of bilateral relations, FTA can boost Indo-Vietm trade'

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  5 April 2018 12:00 AM GMT

Kolkata, April 4: Pointing out that trade between India and Vietm is languishing at around one percent of the total trade done by both countries, the Vietmese envoy to India on Wednesday said their strong bilateral relationship should be used as a foundation for greater economic cooperation. He also urged both the countries to make a better use of the ‘ASEAN India Free Trade Agreement’, of which Vietm is a member. “The trade between Vietm and India is growing but it is not up to the potential. Last year the trade amount between the two countries was $7.6 bn which is very little compared to our total trade. The amount is just more than one percent of Vietm’s total trade. For India it is less than one percent,” Vietmese Ambassador Ton Sinh Thanh said here. The Ambassador also urged both the countries to make a better use of theA ‘ASEAN-India Free Trade Agreement’. “Between Vietm and India, we do not have any bilateral fincial agreement but between ASEAN countries and India, we have a free trade agreement already. We have to make use of the agreement between India and ASEAN, of which Vietm is a member. “I think we should have more promotiol activities, more exploration of markets. By visiting you can see what you can buy or sell in Vietm,” he said.

Stating that Vietm is “very open” to foreign investments and currently more than 25,000 projects from foreign investors are running there, Thh said the investment of $1 billion from Indian companies last year is still a small amount and invited more Indian investors to Vietm. (IANS)

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