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Vietnam, India hope to promote bilateral investment
Thu Minh 17:16, 2016/03/19
Director of the South West Asia and Africa Markets Department Tran Quang Huy said at the forum in India on March 16 that great opportunities are awaiting Indian enterprises in Vietnam as the country has joined several free trade agreements between ASEAN and China, India, the Republic of Korea (RoK), Australia, and New Zealand.
A Vietnam- India Business Forum was organised at the headquarters of the Federation of Indian Chambers of Commerce and Industry (FICCI) in New Delhi, India on March 16.
The forum was attended by local economists and scholars, along with delegates from Vietnam’s Ministry of Industry and Trade (MoIT), the Vietnamese Embassy in India, and business representatives.
Speaking at the event, Director of the MoIT’s South West Asia and Africa Markets Department Tran Quang Huy said the Vietnam’s economy recovered strongly in 2015 with GDP growth reaching 6.68%.
 
Illustrative image
Illustrative image
Indian enterprises in Vietnam are expected to have great opportunities as the country has signed several free trade agreements (FTA) between ASEAN and China, India, the Republic of Korea (RoK), Australia, and New Zealand, Huy noted. 
Vietnam has also joined the Trans-Pacific Partnership (TPP) agreement alongside FTAs with the European Union, the RoK and the Eurasian Economic Union (EAEU), he added.
In 2015, bilateral trade between Vietnam and India reached 5 billion USD. The two countries have targeted to gain a bilateral trade of 15 billion USD by 2020.
The forum made a chance for businesses of the two countries to explore possibilities for partnership. 
During the event, delegates discussed the bilateral cooperation in the fields of renewable energy, transport, tourism, construction materials, cement, coal, mineral, agricultural products and frozen food.
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