(VOVworld) – A seminar on business cooperation with Vietnam opened in India on Monday. Former president of the Madras Chamber of Commerce and Industry Arun Kumar Saraf said Vietnam has become one of the most dynamic economies in the region following 30 years of renewal.
It has become a leading exporter of farm products such as rice, coffee, and peppers. Two-way trade between Vietnam and India has developed steadily and is expected to reach 15 billion USD by 2020. Mr. Saraf proposed discussions of a preferential trade agreement to reduce tariff and non-tariff barriers to facilitate both countries’ export items and services.
Vietnamese ambassador Ton Sinh Thanh said that as Vietnam was a member of 13 free trade areas by doing business with Vietnam Indian businesses would be able to access major global markets such as the US, China, the EU, and Russia.