Aiming at reducing the trade deficit between them, India and Vietnam are gearing up to double the value of two-way trade in the next three years.Ahead of the visit of Prime Minister Nguyen Tan Dung on July 4, Vietnamese ambassador Vu Quang Diem told reporters in New Delhi that the country was planning to increase the existing two-way trade of 1.018 billion USD to two billion USD by 2010.
In his three-day visit, Dung will be accompanied by a 186-member delegation comprising ministers, government officials, businessmen and political leaders.
The delegation will interact with business and industry leaders in Kolkata, Delhi and Mumbai. During the visit, the two countries are expected to sign several MoUs, agreements and a joint declaration, Diem said.
Besides the Indian government, the Vietnamese delegation will also seek collaboration with Tata Steel [Get Quote], Reliance [Get Quote], Tata Motors [Get Quote], Essar Group and NIIT [Get Quote].
While India ranked among the top ten investors in Vietnam among the ASEAN countries, Diem observed the two-way trade between the two countries was far behind its neighbour China with 15 billion US dollars trade volume.
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