(VOVworld)- The Ho Chi Minh National Academy of Politics and Public Administration held a workshop on development cooperation between Vietnam and India in Hanoi on Monday. 40 presentations at the workshop introduced in-depth analyses on ways to boost bilateral economic, trade, and tourist cooperation.

Bilateral trade between the two countries has reached 8 billion USD, 20 times higher than 10 years ago. But, potential for further cooperation remains. Indian Ambassador to Vietnam Preeti Saran said:“The single biggest reason that prevented trade, investment, tourism and people-to-people contacts between our two countries is physical connectivity and access of direct flights between India and Vietnam. It’s the single biggest reason for not having better trade between our two countries. The Jet Airway flight from Ho Chi Minh City to Mumbai and New Delhi via Bangkok combined with better marketing of exotic locations in Vietnam can make dramatic differences in enhancing our economic cooperation”.

Deputy Minister of Industry and Trade Do Thang Hai said bilateral trade between Vietnam and India would reach 15 billion USD by 2020: “Vietnam and India have signed the Trade Agreement and Investment Agreement within the framework of the ASEAN-India Comprehensive Business Cooperation Agreement. These agreements will come into force on July 1 and will create several opportunities for Vietnamese enterprises to approach new markets. Vietnam and India are also participating in the negotiation of the Comprehensive Economic Agreement between ASEAN and its 6 FTA partners. These will be important legal frameworks and prerequisites to boost trade and economic cooperation between Vietnam and India”.

Participants at the workshop stressed the need to strengthen bilateral cooperation in investment, science, technology and human resource training. They proposed further research on India’s development potential.