Trade exchange between Vietnamese and Indian garment businesses held

10:37 | 30/09/2014

VGP – Nearly  to 160 garment and textile enterprises from Viet Nam and India gathered at a recent seminar in the northern province of Nam Dinh to share information and seek partnership opportunities.

Speaking at the event, Deputy Head of the Africa, West Africa and South Asia Markets Department under the Ministry of Industry and Trade Mr. Do Huu Huy  highlighted the importance of diversifying material sources for garment and textile production.
 
Viet Nam contributes to the sustainable development of the sector, he added.
 
A representative from the Indian Business Chamber in Viet Nam Mr. Mohit said that India is the second largest producer of garment materials in the world, holding 13.52% of theglobal market share, while Viet Nam is one of the world’s largest garment and textile exporters.

This will pave the way for bilateral cooperation in the future, he noted.
 
India is among Viet Nam’s top ten trade partners, with two-way trade reaching $5.2 billion in last year, an increase of 30% over the previous year, and nearly $3.8 billion in the first eight months in 2014.

Vietnamese and Indian are striving to bring bilateral trade to $15 billion by 2020.
 
By August 2014, India had 83 investment projects in Viet Nam with a total registered capital of over $256 million.

In 2013, Viet Nam exported $2.3 billion worth of goods to India whereas its imports from the South Asian country topped $2.9 billion.
                                                                                                  By Vien Nhu