India and Vietnam are set to begin talks on a potential trade agreement in an effort to boost bilateral trade and investment. A person familiar with the matter said a joint Indo-Vietnamese working group will be formed in the coming months to examine the feasibility of a trade pact. The assessment of this study will then be taken up by the governments of both countries, the person said requesting anonymity.
This comes in the backdrop of robust growth in bilateral trade volumes between India and Vietnam. According to the Indian embassy in Hanoi, bilateral trade shot up from just $200 million in 2020 to $14.14 billion in 2021-22. The person said India and Vietnam have already met the $15 billion target set for bilateral trade.
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