India-Vietnam bilateral trade reaches target a year ahead
(VOV) - Two-way trade turnover between Vietnam and India hit US$5.15 billion in 11 months this year, a year-on year increase of 8.37%.
Thus, it reached one year ahead of time the target of US$5 billion by 2015 set in 2007 when the two countries established strategic partnership.
According to statistics released by the General Department of Vietnam Customs, Vietnam’s exports rose by 3.72% to US$2.27 billion and imports by 12.34% to US$2.88 billion.
Exported products enjoying high growth rates include pepper (up 119.21%), metal (114.07%), chemicals (71.31%), means of transport (59.43%) and coffee (36.24%).
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Meanwhile imports with high growth rates were seafood (up 183.74% to US$320.84 million), cotton (up US$65.62 million to US$237.28 million), machines and equipment (up US$95.53 million), metal (up US$36.67 million), and textile and garment materials (up 28.54 million).
During Prime Minister Nguyen Tan Dung’s official visit to India from October 27- 28, the two countries agreed to implement strict measures to diversify bilateral trade towards raising it to US$15 billion by 2020.