The 1.27 billion people country has high needs for coffee, rubber and pepper, which are viewed as an advantage for Dong Nai's exporters to exploit potentials of the market.
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| India has high needs for rubber. |
(ĐN)- India is among Vietnam’s top ten trade partners, with two-way trade reaching US$5.2 billion in 2013, nearly doubling the figure of 2010, and nearly US$4 billion in the first nine months of this year. In Jan-August period, Vietnam exported US$1.5 billion worth of goods to India.
Vietnam and India have signed protocols on economic and trade cooperation, double taxation avoidance and bilateral investment promotion. Numerous Indian goods are enjoying tax preferences since the India-ASEAN free trade agreement took effect on June 2010.
Over the past time, Vietnam has diversified its export items to India – clear evidence of positive impacts of the trade agreements on the two countries’ bilateral trade.
Vietnam mainly imports iron and steel, raw materials for animal feed production, pharmaceuticals, cotton from India, while the country’s key export items to the nation include mobile phone, machinery, computers, etc.
The 1.27 billion people country also has high needs for coffee, rubber and pepper, which are viewed as an advantage for Dong Nai’s exporters to exploit potentials of the market.
Therefore, there is a tremendous potential and opportunity for the province’s businesses to boost exports to India.
However, India is also a demanding market for high-quality products. To increase export value, local exporters need to make specific and long-term plans on market segments, which are suitable for their capacity, experts suggested.
They also reminded exporters of the necessity to follow strictly India’s standards on quality and hygiene of products.
Reported by H.G
