Tue, Oct 25, 2016 | updated 01:32 AM IST

India, Vietnam committed to achieve 15 billion dollars target by 2020: Envoy

Updated: Sep 02, 2016 15:22 IST

Hanoi (Vietnam), Sept 2 (ANI): Asserting that trade between New Delhi and Hanoi has grown 400 percent in the last six years, Indian envoy to Vietnam P. Harish on Friday said the two leaderships have set a target of 15 billion dollars by 2020.

"Our bilateral trade between our two countries is around eight billion dollars; it has grown 400 percent in the last six to seven years. The two leaderships have set a target 15 billion dollars by the year 2020. Both countries are committed to achieve this target," Harish told ANI in an exclusive conversation.

The envoy said India's investment in Vietnam is over one billion dollars.

"We have some major infrastructure projects under implementation, especially TATA powers 1320 mega watts power plant in Southern Vietnam over of two billion dollars. And I think the successful completion of that project would be of major boost for Indian business industry to look at Vietnam, likewise in our 'Make in India' programme," said Harish.

"We have also seen a great interest in Vietnam business who are looking at the Indian market and seeking to establish their operations in India. So, I think our trade is robust and we look forward to the growth of trade between our two countries," he added.

Highlighting that India and Vietnam would be celebrating the 45th anniversary of diplomatic relations and 10 years of strategic partnership next year, Harish said the relationship between the two countries has strengthened in many fields in the last few years.

"Next year we are celebrating the 45 anniversary of our diplomatic relations, 10 years of strategic partnership between our two countries. In the last few years, our relationship has strengthened in many fields. Our strategic partnership today is comprehensive, it includes defence and security ties a very strong economic engagement and a strong cultural component people to people relations," said Harish.

"New relationships in science and technology, agriculture, health and education, human resource development, so it is very good, very historic and very broad based relationship. This visit will give opportunity for the new leadership of Vietnam that was elected after the National Congress of the Communist Party of Vietnam earlier this year to get to know our Prime Minister better," he added.

The envoy further said this is the first bilateral visit of an Indian Prime Minister to Vietnam in 15 years.

"This visit is an important visit. We have been preparing for this and we look forward to a very successful outcome of the visit tomorrow," Harish said.

"The last visit was of Prime Minister Vajpayee ji in 2001," he added.

Prime Minister Narendra Modi earlier today said that the partnership between both sides will benefit Asia and the rest of the world.

Prime Minister Modi will first reach Vietnamese capital Hanoi on Friday night, where he will meet President Tran Dai Quang and Prime Minister Nguyen Xuan Phuc and hold wide-ranging talks with the top leadership to deepen ties in key areas of defence, security and trade, and oil exploration.

Briefing the media in New Delhi yesterday, Secretary (East), External Affairs Ministry, Preeti Saran, said: "Vietnam is India's important strategic partner and the visit is aimed at further strengthening bilateral ties, including defence, security and trade. On September 3, the Prime Minister will leave for Hangzhou, China, from Vietnam to attend the G-20 summit on September 4 and 5. (ANI)