'India-Vietnam trade to reach USD 15 bn by 2020'

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SME Times News Bureau | 21 Jan, 2015
Vietnamese Deputy Prime Minister Hoang Trung Hai has expressed confidence that bilateral trade between his country and India will reach USD 15 billion by 2020, the commerce ministry said New Delhi Wednesday.

Hai's comments came during Commerce Secretary Rajeev Kher's visit to Vietnam to attend on Jan 20 the second meeting of the trade sub-commission set up between both countries.

Hai also pointed at the great potential for trade and investment cooperation in textiles, agriculture, pharmaceuticals, leather, energy and oil and gas sectors, and invited the Indian companies to invest in Vietnam.

At the trade sub-commission meeting in Hanoi, both sides discussed measures to enhance cooperation in textiles, pharmaceuticals, agri-trade, investment and services sectors.

The joint sub-commission on trade was established in 2013 with an objective to boost bilateral trade and economic cooperation. The first meeting of the commission was held in November 2013 New Delhi.