(VOVworld) - Two-way trade between Vietnam and India has grown and flourished over the years and both countries are looking towards a 7 billion USD target in 2015.

Handling goods at India's Mundra port

Nguyen Son Ha, Vietnamese Trade Counselor to India, says India is one of Vietnam’s top ten trade partners and Vietnam is India’s fourth biggest trade partner within ASEAN. Vietnam and India are fostering trade ties through a number of measures, including finalizing the legal corridor for trade and investment facilitation. India has recognized Vietnam’s full market economy status. Both countries have signed numerous agreements, including the ASEAN-India Trade in Goods Agreement (AITIG), to assist business communities to access their markets. The Vietnam-India trade subcommittee meets every year to chart a course for trade cooperation between the two countries. Both sides have carried out national cooperation programs and exchanges on trade and investment promotions, and organized trade fairs, exhibitions and joint business forums in each country. They have encouraged businesses to invest in the areas of their strength and supported businesses in opening representative offices in each other’s territories.