Vietnam and india launch joint trade website
HANOI - The "On-line India-Vietnam trade information centre" was officially launched by the Indian
Embassy in Vietnam, the Vietnam Chamber of Commerce and Industry, Vietnam Post and Telecommunications Subsidiary,
and the Centre for Development of Information Technology.
The web page is designed to create favourable conditions for Vietnamese and Indian businesses to conduct trade, investment,
tourism, commercial and economic exchanges and provides information about 300 Vietnamese and 100 Indian enterprises.
At the launch in Hanoi, Indian Ambassador Surabh Kumar said that the two-way trade between the two countries increased to
US$153.11 million between 1999-2000 from US$114.30 million in 1996-97.
India's exports to Vietnam increased to US$141.63 million from US$112.60 million while Vietnam's exports to India rose 10
fold from US$1.7 million to US$11.48 million.
Vietnam mostly imports pharmaceuticals and chemicals, rubber products, and sugar-processing machinery from India, and
exports seasonings, natural rubber, organic chemicals, artificial pine resin and non-ferrous metals.
India has invested US$125 million in Vietnam's sugar processing, electricity transmission, plastics and pharmaceutical industries.
In the next two years, the Indian State-owned company, ONGC, will invest US$200 million in the Nam Con Son project -
part of a joint venture between PetroVietNam and BP/Statoil.
Indian companies are considering investing in Vietnam's tea processing, ship-building, railway, and mining industries.
Vietnam News Agency - March 29, 2001.
|