International trade

In the last decade, Vietnam’s economy recorded a high and relatively stable growth rate of about seven per cent per annum. The country’s rapid economic growth can be observed in the development of several key sectors such as agricultural production (coffee, rubber, pepper, cashew, cassava and rice), light manufacturing (apparel, footwear and electronics) and tourism.

Over the past two decades, Cambodia has achieved significant growth of over seven per cent annually driven primarily by several key sectors of the economy. Small and growing businesses may now be at a stage where they are considering expansion through international trade and investment and India provides as attractive market as one of the fastest growing economies with geographical proximity to Cambodia.

Trade and investment between India and the Greater Mekong Sub-region (GMS) countries of Cambodia, Thailand and Vietnam is relatively low in comparison to India’s trade with the rest of the world. GMS countries offer many opportunities for Indian businesses given their geographic and cultural proximity and their involvement in similar global value chains such as automotive, garments and pharmaceuticals.

Networking is about building contacts that might, now or in the future, help you in your work. Networking has taken a much higher profile in recent years with the advent of the internet and both business and social networking sites such as Linkedin, WeChat and Facebook as well as Twitter.

We are delighted that you have registered with PROFIT. Growing your enterprise through international trade will require determination and hard work but will ultimately be rewarding. We have considerable expertise and experience on which you can draw as you develop your ideas. It might help to ensure that we have a fruitful relationship if we set out our commitment to you and our expectations of you but first we set out some of the benefits that accrue from trading or investing internationally.

This note has been prepared to assist you to think about the risks that you might face when engaging in international trade or investment. Whilst some of the risks may apply more broadly, this fact sheet does not attempt to cover all aspects of business risk.

This fact sheet sets out a model code of ethics for use by private sector organisations. Feel free to use this as the basis for developing a code for your own organisation.

The import and export of goods requires a written contract. The terms of this contract must be clearly understandable by both the exporter and the importer, even if they do not speak the same language, and even if their two countries have different business practices and legal systems.

The Harmonised Commodity description and Coding System, usually abbreviated to the harmonised system (HS), is an international nomenclature for the classification of products.