Business Daily from THE HINDU group of publications
Friday, Nov 13, 2009
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Business Daily from THE HINDU group of publications Friday, Nov 13, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Industry & Economy
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Foreign Trade States - West Bengal Vietnam keen to expand trade ties Our Bureau Kolkata, Nov. 12 The bilateral trade between India and Vietnam is expected to double, in three years, from the $2.4 billion level recorded in 2008. Giving this information at a seminar organised by the Bengal National Chamber of Commerce and Industry here on Thursday, Mr Pham Viet Thich, Deputy Director General, Department of Economics, a military-run department of Vietnam, said, “Our goal is to strike a balance between the volumes of exports and imports with India.” Mr Thich was here leading a 41-member delegation. Balance of tradeAt present, the balance of trade between the two countries is highly tilted towards India, with its exports to Vietnam accounting for nearly 84 per cent of the total trade between the two countries. “The bilateral trade is going on well between the two countries in the current fiscal as well,’” Mr Thich said. Thrust areasThe Vietnamese companies, he said, were looking at extending trade relationships with India in the fields of agro-forestry, aquaculture, construction, machine and chemical production, garments, leather goods, shoes, electronics, IT, telecom, flight and port services. The main items of export by India in the country are drugs, pharmaceuticals, meat products, electronic goods, inorganic, organic and agro-chemicals, machinery and tobacco. India’s main imports from Vietnam are paper, tea, coal, rubber, coffee, leather, crude fertilizer, electronic components, leather items and food products. Indian investmentsThe total Indian FDI in Vietnam till date was $ 125 million, Mr Thich said. The main Indian investors in the country are KEC (in manufacturing component), Nagarjuna International Sugar plant, Godrej, Siva Plastics, Sol Pharma, among others. The principal areas of Indian investments in the country are rubber plantation, tea processing, mining, pharmaceuticals, sugar processing, etc. More Stories on : Foreign Trade | West Bengal
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