Vietnam ran a trade surplus of 343 million USD with India in the first quarter of this year, according to statistics released by the General Department of Vietnam Customs.
Hanoi (VNA) – Vietnam ran a trade surplus of 343million USD with India in the first quarter of this year, according tostatistics released by the General Department of Vietnam Customs.
Two-way trade between the two countries hit 2.345 billionUSD, with Vietnam’s exports valued at 1.398 billion USD.
The Ministry of Industry and Trade’s Trade Promotion Agencysaid India is now Vietnam’s 10th largest trade partner. However, thereremains untapped potentials.
A number of Vietnamese products such as longan, litchi,rambutan and durian are popular in India.
The two countries are striving to achieve two-way trade of15 billion USD this year./.
With the comprehensive strategic partnership and large purchasing power, Vietnam and India have large potential to increase two-way trade via boosting the export of their strong commodities to each other’s markets, trade officials of the two countries said.
Minister of Planning and Investment Nguyen Chi Dung has affirmed that India is a major trade partner and investor of Vietnam, urging the two sides to spare no efforts to soon realise the target of bringing bilateral trade to 15 billion USD.
Two-way trade between Vietnam and India reached 1.65 billion USD in the first two months of 2020, up 2 percent against that of the same period last year.
Trade between Vietnam and India would continue to grow strongly and sustainably after the COVID-19 pandemic is brought under control, Vietnamese Ambassador to India Pham Sanh Chau said on April 28.
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Illustrative image (Photo: Internet) 
