Vietnam’s trade deficit with India has narrowed gradually, hitting just over 330 millions USD in the first half of 2012, down 45 percent against the same period last year.

Vo Tan Thanh, Director of the Vietnam Chamber of Industry and Commerce in HCM City ( VCCI- HCM City) said at a Dec. 6 trade seminar that bilateral trade and investment between Vietnam and India also receives a boost by a stable legal framework and the signing of cooperation agreements.

He also noted the positive signs in investment ties, adding however, that India ’s investment in Vietnam remains at a modest level.

Ranjit Rae, Indian Ambassador to Vietnam, said that while trade balance between Vietnam and India has improved, bilateral economic activities tend to reduce against last year.

He emphasised the need to put forth new initiatives to stimulate cooperation such as conducting surveys in each sector, making concrete recommendations and exchanging trade delegations regularly.

Vietnam-India two-way trade reached 3.9 billion USD last year, and the two countries have set the target of boosting the figure to 7 billion USD by 2015.

VNA