The two-way trade turnover between Vietnam and India in the first four months this year reached over US$1.26 billion, rising by 50 percent compared to the same period in 2010, according to the General Department of Vietnam Customs.

Export turnover achieved US$375.7 million and imports were US$885.8 million.

In the first quarter alone, the value of Vietnam’s exports to India increased by 88.3 percent against last year, and was mainly iron and steel, coffee, machines, spare parts, computers and electronics.

New Vietnamese products that entered Indian market were hardware, electronics, garments and textiles, showing the mechanisms for Vietnam exporting to India are changing in a more positive direction.

India’s recognition of Vietnam’s Market Economy Status (MES) is expected to create an important foundation for sustainable development of trade and investment between the two countries.

(VOV)