Vietnam hopes that India will maintain its position among leading trading partners of and foreign investors in Vietnam, Vietnamese Minister of Industry and Trade Vu Huy Hoang has said.
The Vietnamese official expressed the hope at the ASEAN-India Business Fair 2012 (AIBF), the second of its kind, which kicked off on December 18 in New Delhi.
Vietnam ’s pavilion, the largest among ASEAN countries, showcases products of garment and textile, processed food, and handicraft products. Vietnamese businesses also take the chance to advertise their strength and seek ways to penetrate the Indian markets.
The other nine Southeast Asian countries and the host country are also displaying a variety of products at the three-day fair.
Trade turnover between ASEAN countries and India currently stand at 80 billion USD a year, and the two sides are aiming to achieve 100 billion USD by 2015.
The AIBF was initiated by Indian Prime Minister Manmohan Singh at the ASEAN-India Summit in Thailand in September, 2009 with the aim of promoting bilateral trade and investment between India and ASEAN countries. The first fair was held in India in 2011.
On December 17, Vietnam’s Ministry of Trade and Industry, in coordination with the Indian Ministry of Trade and Textile Industry, the Federation of Indian Export Organisations and other partners, held a Vietnam-India business exchange in Kolkata city, the state of West Bengal./.