Managing director of Indian Overseas Bank (IOB) Nupur Mitra has met with the State Bank of Vietnam Governor to urge the upgrade of its current representative office to a new branch in HCM City .

The new branch would support bilateral trade between the two countries, which reached 1.55 billion USD in the first five months of this year, an increase of 30 percent compared to same period last year, said Mitra.

Bilateral trade between Vietnam and India is expected to reach 4 billion USD by the end of this year./.