India-Vietnam should achieve $15 billion trade target by 2020: President Pranab Mukerjee

NEW DELHI: President Pranab Mukerjee today said India and Vietnam should take steps to achieve USD 15 billion bilateral trade target by 2020.

He said this while speaking to the Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh, who called on him at the Rashtrapati Bhavan.

"The status of present bilateral trade between India and Vietnam is satisfactory. However, the two countries should work together to achieve the target of USD 15 billion bilateral trade by 2020," the President said.

In 2016-17, the two way trade between the countries stood at USD 10.14 billion.

Mukherjee said many Indian companies were keen to invest in Vietnam for the development and prosperity of their people.

He said it was his strong belief that this partnership will continue to strengthen in the years to come.

The President said the two countries traditionally share warm and cordial relations, based on mutual respect and goodwill.

Our fruitful partnership has grown in recent years, Mukerjee said, adding that he was "confident" that it would continue to strengthen in the years to come.

The President also recalled his state visit to Vietnam in September 2014 and thanked Minh for his country's warm hospitality.

He also congratulated Minh on his elevation as a member of Politburo last year.

The Vietnamese deputy PM reciprocated the President's sentiments and said Vietnam is keen to work with India in taking their mutual relationship to greater heights.