India is now one of the top 10 trading partners of Vietnam while Vietnam is the 15th biggest trading partner of India and the fourth largest in ASEAN. Despite the COVID-19 pandemic, two-way trade is likely to surpass 15 billion USD next year. According to the Ministry of Industry and Trade’s Department of Asian Market, India is the most important market of Vietnam in South Asia, with two-way trade accounting for around 80 percent of Vietnam’s total trade with South Asian nations. From 5.5 billion USD in 2016, trade between the two countries surged to 11.2 billion USD in 2020 and is expected to surpass 13 billion USD next year, a record figure. Vietnamese Commercial Counsellor Bui Trung Thuong said during the NA Chairman’s visit, the Vietnam Trade Office under the Vietnamese Embassy in India will work closely with ministries and agencies, and the Federation of Industries of India to hold 15 trade promotion programmes in various areas.

Source: Viet Nam News December 16, 2021 15:13 UTC