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Vietnam-India Trade: Current Relations and Prospects

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Purpose – In recent years, the bilateral political relationship between Vietnam and India was upgraded to strategic and comprehensive partnership. Thus, the purpose of this paper is to analyze current relations and prospects of the Vietnam-India trade. Research design, data and methodology – The data was mainly based on World Integrated Trade Solution (WITS) and Foreign Investment Agency of Vietnam Ministry of Planning and Investment (FIA) from 2010-2018. The relationship of the two countries has showed growth in all sectors, including trade cooperation. This paper focused on assessing the current relations of trade cooperation of the two countries and then andlyzed the prospects of trade cooperation in the next period. Result - The Indian Government’s strategy shifted from “Look East” policy to “Look East” action by the end of 2015. Vietnam is a partner and a pillar of India’s Look East policy (Muni, 2011). The governments of both countries should further strengthen exchanges and trade connections in order to provide cooperation opportunities for investors and businesses of the two countries. Conclusion - The paper discusses and gives an overview of the current status of the trade relations of Vietnam and India as well as lucidating the opportunities and challenges for two countries in the future.

Abstract

Purpose – In recent years, the bilateral political relationship between Vietnam and India was upgraded to strategic and comprehensive partnership. Thus, the purpose of this paper is to analyze current relations and prospects of the Vietnam-India trade. Research design, data and methodology – The data was mainly based on World Integrated Trade Solution (WITS) and Foreign Investment Agency of Vietnam Ministry of Planning and Investment (FIA) from 2010-2018. The relationship of the two countries has showed growth in all sectors, including trade cooperation. This paper focused on assessing the current relations of trade cooperation of the two countries and then andlyzed the prospects of trade cooperation in the next period. Result - The Indian Government’s strategy shifted from “Look East” policy to “Look East” action by the end of 2015. Vietnam is a partner and a pillar of India’s Look East policy (Muni, 2011). The governments of both countries should further strengthen exchanges and trade connections in order to provide cooperation opportunities for investors and businesses of the two countries. Conclusion - The paper discusses and gives an overview of the current status of the trade relations of Vietnam and India as well as lucidating the opportunities and challenges for two countries in the future.

참고문헌 (14)

  1. Asean-India Development and Cooperation Report 2015, "Asean-India Centre", Research and Information system for developing countries, ~ (2015)
  2. Chansoria, M., "Positioning Vietnam in India’s “Look East” Policy", CLAWS Journal, 1, pp.12~31 (2011)
  3. "Statistics on foreign investment in Vietnam" (2018)[URL]
  4. Goswami, N., "India’s Approach to Asia: Strategy, Geopolitics and Responsibility" (2016), Institute for Defence Studies and Analyses
  5. Annual Report 2016-2017: Towards sustainable and lasting growth, "Government of India", ~ (2017)
  6. India-Vietnam Relations, "Indian Ministry of External Affairs", Statement by the Indian Ministry of External Affairs, ~ (2011)
  7. Ministry of External Affairs India, "Statement Between India and Vietnam During Visit of PM to Vietnam", ~ (2016)
  8. India’s ‘Look East’ Policy: The Strategic Dimension, "Muni, S. D.", ISAS, ~, pp.ISAS Working Paper No. 121 (2011)
  9. Pant, H. V., "India foreign policy: An overview" (2016), Manchester University Press
  10. Pant, H. V., "The India-Vietnam Relationship:Beyond the BrahMos Connection" (2017)
  11. Pant, H. V., "India and Vietnam: A “Strategic Partnership” in the Making" (2018)
  12. "IPCS Special Report: India Vietnam Relations, The Road Ahead (No. 40)" (2007)[URL]
  13. Srivastav, S., "India-Vietnam: Agenda for Strengthening Partnership", pp.26~27 (2013), Shipra Publications
  14. Thayer, C., "Strategic Asia 2011-12: Asia Responds to its Rising Powers: China and India", pp.336~338 (2012)

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