India-Vietnam seek increased collaboration | SupportBiz

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India-Vietnam seek increased collaboration

 
Bilateral trade between India and Vietnam expected to reach USD7 billion by the year 2015.

Indian Commerce, Industry and Textiles Minister Anand Sharma recently met Vietnamese Prime Minister Nguyen Tan Dung to promote bilateral trade co-operation, reports The Economic Times.

Nguyen stated that India and Vietnam have always shared a friendly relationship, and have now progressed to strategic partnership. He went on to state that his country will attempt to further develop this partnership and support investments by Indian companies.

Nguyen stated that India and Vietnam should closely co-ordinate for the organising of events to celebrate the 40th anniversary of their diplomatic relations (1972-2012) and the fifth anniversary of their strategic ties (2007-2012).

Sharma appreciated Vietnam's socio-economic achievements. He suggested that the two countries form a joint committee to resolve the issues between them, especially in the sectors of energy, information technology and pharmaceuticals.

Bilateral trade between India and Vietnam was recorded at USD4 billion in 2011. Trade between the countries has risen by 14 times in the past decade.

Sharma also expressed hope that bilateral trade between India and Vietnam will reach USD7 billion by the year 2015.