Vietnam Attends India's 8th WTO Trade Policy Review

Vietnam has sent a delegation to participate in the 8th Trade Policy Review meeting of the World Trade Organization (WTO) hosted by India. This meeting serves as a crucial opportunity to assess India's trade policies and its contributions to the global trading system. Vietnam and India are rapidly developing their bilateral trade relations as key economic partners in the South Asian region. Currently, India accounts for approximately 80% of Vietnam's total trade with other South Asian countries, making it one of the most significant economic partners. Meanwhile, Vietnam ranks as India's 22nd-largest trading partner globally and the fourth-largest within the ASEAN region. During the meeting, both nations expressed their commitment to strengthening mutually beneficial cooperation, particularly in the sectors of fisheries, agri-food, and the digital economy. Vietnam aims to further deepen its collaboration with India in these areas, contributing to the economic growth of both countries and working towards the goal of increasing bilateral trade to a target of $25 billion. Under its one-party system, Vietnam prioritizes economic growth and the expansion of international trade as key national objectives. Vietnam's participation in this review signifies its adherence to international trade rules and is part of its diplomatic strategy to enhance economic ties with major partners. Strengthening economic ties with India is becoming increasingly important for Vietnam's diplomatic and economic diversification strategy, especially amidst complex relations with China.