VINACHEM

Vietnam's total trade turnover with countries in South Asia last year reached 6.2 billion USD, posting a 30 percent increase over the previous year.

Figures from the Ministry of Industry and Trade's department for Africa, West Asia and South Asia markets showed that bilateral trade between Vietnam and the region had a higher growth rate than others.

Vietnam's export turnover to the region was estimated at 3.25 billion USD, increasing 35 percent against 2012's imports worth 2.95 billion USD, representing a 20 percent year-on-year increase.

In the region, India is Vietnam's largest trade partner, with an average export turnover growth rate of 40 percent in the past five years. Since the signing of the ASEAN-India Trade in Goods Agreement (AITIG), the two countries' trade turnover saw a continuous increase.

Vietnam's key exports to India have been diversified with increased value.

Vietnamese industrial products including telephones, spare parts, machines, computers, electronics and their accessories accounted for a high percentage of exports to India.

The combined export turnover of these products last year was 1.5 billion USD, accounting for 70 percent of the country's total exports to India.

Export turnover to Pakistan also saw an average rise of 20 percent per year in the 2011-12 period. Pakistan mainly imported tea, pepper, seafood, cashew and steel from Vietnam, with turnover of 181 million USD, increasing 4 percent in comparison with the year 2012.

Pakistan 's exports to Vietnam saw a 34 percent decline over the previous year as Vietnam reduced imports of products that serve the garment and textiles, leather shoes and cotton industries.

Statistics from the General Department of Customs also revealed that last year's total bilateral trade turnover between Vietnam and Sri Lanka reached 155 million USD.

Vietnam's exports to the country were cotton, rubber, electric cables, mobile phones and spare parts. Its imports included cattle food, materials for making leather shoes, and pepper.

For Bangladesh, Vietnam's total export turnover last year was more than 500 million USD, surging 42 percent over 2012. All of the exported items including cotton, garments and textiles, machines and spare parts saw an increase in the growth rate.

However, investment cooperation between Vietnam and the region was still limited in comparison with other regions.

By the end of last year, India had 77 projects invested in Vietnam, with total capital of 250 million USD, while Sri Lanka had nine projects; Pakistan , 10; and Bangladesh, two.