Because of the Free Trade Agreement between ASEAN and India (AIFTA), the import tax on main paper lines is decreasing gradually, increasing the competitiveness of Indian paper.
February 9, 2018
Trade in paper between Vietnam and India is quite low and there is significant potential for growth, a meeting between Indian and Vietnamese paper companies. The meeting was attended by a delegation of 44 Indian companies belonging to the Federation of Paper Traders Association (FPTA).
K Srikar Reddy, the Indian consul general, said bilateral trade had grown more than 60 fold in the last two decades to USD 10.13 billion in 2016-17. “India is among the top 10 trading partners of Việt Nam.” India exported paper worth USD 38.17 million to Việt Nam last year, 3.26 percent of its global exports, he said.It imported paper worth USD 2.7 billion, but only USD 7.78 million from Việt Nam, he said.
There is thus much scope to promote bilateral investment and trade ties in the sector, he added. Việt Nam has started importing paper from India with the volume increasing year after year. Because of the Free Trade Agreement between ASEAN and India (AIFTA), the import tax on main paper lines is decreasing gradually, increasing the competitiveness of Indian paper.
