The removal of Indian trade barriers to imports of agricultural products can open up a new market for Vietnamese agricultural exporters. In addition, there is considerable potential for investment in livestock techniques, irrigation techniques and storage facilities. Vietnamese topography, climate and fertile soil make it suitable for coffee plantations. TATA Group has announced its intention to invest in the installation of agricultural machinery to meet demand in the Mekong Delta. Note: any customs union, common market, economic union, customs and monetary union, economic and monetary union is also a free trade area. India`s large middle class of 1.3 billion people and its exemption from tariffs on ASEAN products make it a lucrative destination for Vietnamese exports. There is considerable scope for the development of services related to wholesale and retail trade, transport and storage, business support and trade opportunities for cotton and knitted clothing. The EU-Vietnam Free Trade Agreement is an ambitious pact that aims to eliminate almost 99% of tariffs between the EU and Vietnam. The Eurasian Economic Union, composed of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, has concluded the following free trade agreements, see below.
The enormous volatility of the global business environment has led companies to diversify their supply chains away from China, which has increased the importance of the India-Vietnam trade route for international business. Vietnam`s manufacturing industry has quickly become a highly efficient location for incoming electronics and telecommunications manufacturers moving from China due to rising costs and the trade war between the US and China. The country has boosted investor confidence by quickly and effectively curbing the COVID-19 pandemic. Vietnam is becoming a leading choice for large companies that want to create their new production centers and diversify their supply chains. The EVFTA will also make Vietnam a more advantageous site for investments withdrawn from China due to the trade war between China and the United States, Dhar added. . . .