New Delhi, Jan 21 (KNN)  Vietnam’s Deputy Prime Minister, Hoang Trung Hai, while expressing his delight at the blossoming of trade and economic relations between India and Vietnam said he was confident that both sides would be able to achieve the target of bilateral trade of USD 15 billion by 2020.

“He noted that there is great potential for trade and investment cooperation in textiles, agriculture, pharmaceuticals, leather, energy and oil and gas, and invited Indian companies to invest in Vietnam,” an official release said today.

Currently, an Indian delegation consisting senior officials from the Ministries of Commerce, Textiles and the Department of Pharmaceuticals along with export promotion councils and companies from the textiles, pharmaceuticals, engineering, agriculture and leather sectors are in Vietnam from January 19-21.
 
In Ho Chi Minh City today, the delegation attended a business-to-business event jointly organized by both governments, with participation of around 100 companies from both sides.
 
The delegation has been led by Secretary, Ministry of Commerce, Rajeev Kher who co-chaired the 2nd Meeting of the India-Vietnam Sub-Commission on Trade with Vietnamese Vice Minister of Industry and Trade, Cao Quoc Hung on January-20, in Hanoi.

At the meeting, both sides reviewed the progress made since the first meeting and discussed measures to enhance cooperation in textiles, pharmaceuticals, agri-trade, investment, services and so on.
 
The discussions focused on implementing decisions taken during Prime Minister of Vietnam, Nguyen Tan Dung’s visit to India in October 2014 wherein both Prime Ministers agreed to enhance economic and trade cooperation as a strategic objective.

The Joint Sub-Commission on Trade was established in 2013 between India and Vietnam with an objective to boost bilateral trade and economic cooperation. The first meeting was held in November 2013 in New Delhi.  (KNN/ES)