Workshop increases Vietnam-India strategic partnership

Vietnam and India have a great potential for cooperation in services, pharmaceuticals, oil refinery, transport, agriculture, information technology, tourism, education and production of fine art articles, said a recent workshop in New Delhi.

Trade and economic ties between India and Vietnam have seen a rapid growth in recent years with two-way trade rising from US$489.2 million in 2003 to over $2 billion in 2009, participants stressed at the workshop entitled India-Vietnam strategic partnership: tapping potential for expanding cooperation.

The two countries expect to bring the bilateral trade to $2.55 billion this year. Vietnam’s exports to India are mainly tea, coffee, rubber, coal, computer hardware and electronic appliances, while its imports from India steel, livestock feeding, pharmaceuticals, machinery equipment, cotton, leather and textile products and pesticide.

However, participants stressed Vietnam and India have yet to fully tap their potential in trade and economic ties, urging the two countries to overcome existing difficulties, such as tax levels, customs procedure and transport.

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Workshop increases Vietnam-India strategic partnership

Vietnam and India have a great potential for cooperation in services, pharmaceuticals, oil refinery, transport, agriculture, information technology, tourism, education and production of fine art articles, said a recent workshop in New Delhi.

Trade and economic ties between India and Vietnam have seen a rapid growth in recent years with two-way trade rising from US$489.2 million in 2003 to over $2 billion in 2009, participants stressed at the workshop entitled India-Vietnam strategic partnership: tapping potential for expanding cooperation.

The two countries expect to bring the bilateral trade to $2.55 billion this year. Vietnam’s exports to India are mainly tea, coffee, rubber, coal, computer hardware and electronic appliances, while its imports from India steel, livestock feeding, pharmaceuticals, machinery equipment, cotton, leather and textile products and pesticide.

However, participants stressed Vietnam and India have yet to fully tap their potential in trade and economic ties, urging the two countries to overcome existing difficulties, such as tax levels, customs procedure and transport.

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• HCMC-based company signs Japan partner deal
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• IFC: Vietnam needs to increase PPP to support economy

Workshop increases Vietnam-India strategic partnership

Vietnam and India have a great potential for cooperation in services,
pharmaceuticals, oil refinery, transport, agriculture, information
technology, tourism, education and production of fine art articles, said
a workshop in New Delhi.

Trade and economic ties between India
and Vietnam have seen a rapid growth in recent years with two-way
trade rising from 489.2 million USD in 2003 to over 2 billion USD in
2009, participants stressed at the September 30 workshop entitled
India-Vietnam strategic partnership: tapping potential for expanding
cooperation.

The two countries expect to bring the bilateral
trade to 2.55 billion USD this year. Vietnam’s exports to India are
mainly tea, coffee, rubber, coal, computer hardware and electronic
appliances, while its imports from India steel, livestock feeding,
pharmaceuticals, machinery equipment, cotton, leather and textile
products and pesticide.

However, participants stressed Vietnam
and India have yet to fully tap their potential in trade and
economic ties, urging the two countries to overcome existing
difficulties, such as tax levels, customs procedure and transport./.

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US-ASEAN economic ties 'priority' despite no-show

HANOI - Economic ties between the United States and Southeast Asia are "a high priority", an embassy spokesman said Saturday despite the absence of US officials from a key regional trade meeting.

Ministers from China, Japan, India and other leading trade partners of the 10-member Association of Southeast Asian Nations (ASEAN) attended the annual talks which ended Friday in the central Vietnamese city of Danang, but US officials were absent.

Analysts blamed domestic US political factors for the no-show.

"US government economic and trade officials maintain constant and active dialogue with their ASEAN counterparts," the embassy spokesman told AFP.

"And we consider the US-ASEAN economic relationship to be a high priority."

The spokesman, who declined to be named, added that representatives of the US-ASEAN Business Council -- which includes executives from major corporations -- did attend the Danang meetings.

"The American business community is a strong partner for ASEAN," the council said in a statement. It has participated for more than a decade in the annual ASEAN economic talks.

On a visit in June to Vietnam, deputy US trade representative Demetrios Marantis said the US is the biggest foreign investor in the country, which currently chairs ASEAN.

Vietnam and two other ASEAN members, Brunei and Singapore, are part of talks with the US and others aimed at forging the Trans-Pacific Partnership trade deal.

ASEAN Secretary General Surin Pitsuwan said in Danang that "we are disappointed" the US could not attend the annual economic discussions but he described Washington's commitment to the region as "quite strong".

Surin said there were "many levels of engagement", and economic ministers from the bloc had visited the US in March.

The US is Southeast Asia's fourth-largest trading partner, with two-way commerce worth more than US$149 billion last year, according to ASEAN data.

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