During talks with Mr Sharma, the two sides reviewed trade and investment ties between Vietnam and India. They shared the view that bilateral trade ties have increased considerably in recent times, but have yet to match the two countries’ potential.

The ministers discussed measures to boost investment and trade cooperation in 2010 and the following years.

During his stay, Mr Hoang held working sessions with representatives of a number of leading Indian groups such as Tata industrial group, the International Petroleum Company of India (ONGC Videsh), the Federation of Indian Chambers of Commerce and Industry (FICCI) , the Confederation of Indian Industry (CII) and the Indo-Vietnamese Chamber of Commerce and Industry (IVCCI).

Two-way trade between Vietnam and India reached US$2.8 billion in 2008. Despite the global financial and economic turmoil, the figure is estimated at nearly US$2.5 billion this year and US$3 billion in 2010.