(VOV) - Vietnam-India trade turnover has risen to US$4 billion from US$178 million ten years earlier. The figure was released at a business meeting held in the central city of Danang on Thursday.
The event is part of activities in the framework of the Vietnam-India Business Forum to mark the 40th anniversary of bilateral diplomatic ties and the 5th anniversary of the establishment of bilateral strategic partnership. To date, India is one of Vietnam’s top 10 biggest foreign trading partners with more than 60 projects in the country focusing on manufacturing and mining. Both nations have targeted to raise trade turnover to 7 billion USD by 2015. Hoang Van Dung, Vice Chairman of the Vietnam Chamber of Commerce and Industry, said ‘We speak highly of the role of ministries, agencies, and associations of the two in boosting cooperation in trade, investment, economic, cultural, and education exchanges. The bilateral ties retain much potential to be developed in the future. The traditional relationship between Vietnam and India, India’s Eastward policy, and Vietnam’s renewal process are favorable factors to further the bilateral relationship.’
At the meeting, enterprises of both countries introduced business and market opportunities of the two, influence of the ASEAN – India Free Trade agreement, and measures to boost the Vietnam – India trade.