India and China on Tuesday agreed to draw up a medium- and long-term roadmap with action points and timelines to address the US$51 billion trade deficit between them. India’s trade deficit with China stood at US$36.73 billion during the April-October period of the current fiscal - Photo: AFP “The ministries agreed to meet more frequently to pursue this roadmap at an early date. It was agreed to consider (that) a round table would be convened between the two sides, shortly in China to prepare this roadmap to facilitate long-term sustainable and balanced trade between the two countries,” said a copy of the minutes of the meeting between the two countries reviewed by Mint. Minutes of the meeting were signed at the commerce minister Suresh Prabhu’s residence over breakfast on Tuesday. It came a day after the 11th joint economic group meeting headed by Prabhu and his Chinese counterpart Zhong Shan ended on Monday with the two sides failing to issue a joint … [Read more...] about India, China agree to draw roadmap to address trade deficit
Trade deficit india
He was reporting at a meeting on socioeconomic situation presided over by chairman of the city People’s Committee Nguyen Thanh Phong. The city’s exports strongly increased to Singapore, Malaysia, India, Spain, Thailand and China but slowed down to the Philippines, Indonesia and Italy. Major import items comprise equipment and materials for local production. Of these, electronic products and comportments increased nearly 36 percent, metals rocketed 40 percent and plastic materials hiked 18 percent. Total retail sales of goods and services reached VND527,310 billion ($23.21 billion). Leaders of the Department of Tourism said that the city received 3.2 million international visitors in the first seven months, a year on year increase of 16 percent. Especially, the city reported a raise of tourists from Asia and North Asia during off peak season this year. Still the increase in HCMC was lower than other provinces and cities in the northern and central … [Read more...] about HCMC’s trade deficit reaches billions of US dollar
Vietnam logged a US$3.58 billion trade deficit in the first ten months of this year, largely due to rising imports of cars, the latest customs data shows. The country's exports in the ten-month period topped $134.41 billion, up $10.31 billion compared to a year earlier, according to the General Department of Vietnam Customs. Imports stood at nearly $138 billion, a $16.6 billion increase year on year. Total import-export turnovers were therefore $272.4 billion, up $26.9 billion from the Jan-Oct period last year, while Vietnam returned to a $3.58 billion trade deficit from a surplus of $2.36 billion in the same period in 2014. The Southeast Asian country spent $2.33 billion on bringing home 97,320 completely built-up (CBU) cars in the ten-month period, an 89 percent increase in volume and 102 percent rise in value, according to the customs data. China was Vietnam’s largest CBU car supplier, with 21,050 units sold between January and October, representing a 115 percent … [Read more...] about Trade deficit in Vietnam hits $3.6bn in Jan-Oct over rising car imports
The Hanoitimes - Vietnam's trade deficit with India narrowed to US$529 million in 2013, according to Ministry of Industry and Trade statistics. The change represents a continued and significant deceleration after the deficit peaked at US$1.7 billion in 2008. Pepper Apart from the traditional exports, including pepper, rubber and footwear, more and more Vietnamese products with higher added values were shipped to India in 2013, such as mobile phones, computers, electronics and components. Leading economists attribute the higher added values as the most important single factor contributing to the much improved trade deficit and expect to see this trend in the future. In addition, Vietnam's exports to India have been afforded more favourable treatment since the ASEAN-India Free Trade Agreement came into effect in 2010. India's recognition of Vietnam's full market economy has greatly facilitated Vietnamese products finding easier access to the Indian market … [Read more...] about Trade with India decreases
The Hanoi Times - Vietnam doesn't just import cars from the US and beef from Argentina.Now it also imports apples and pears from South Korea and vegetables from Italy. That's a part of the explanation why the trade deficit has grown sharply in the last months of the year. Our appetite for imports has become our headache.Experts warn that as a consequence of the decision by the State Bank to resume gold imports in November, Vietnam's trade deficit for all of 2009 will be much higher than the $10.2 billion recorded for the year's first eleven months. Vietnam imports more cheese than China The French Lactalis International Group late last week officially appointed Hoang Lan, a HCMCity company as the distributor of its dairy, cheese and butter products in Vietnam.Hoang Lan's 'impressive achievement' is that in ten years of market development, Lactalis sells 500 to 600 tonnes of President brand cheese in Vietnam every year. The sales volume is the highest in Asia. Minh Sao, a company … [Read more...] about Where does the trade deficit come from?