India hopes to sign a service and investment agreement with Vietnam in early 2013, Indian Minister of Commerce and Industry Anand Sharma has said.

Sharma made the wish at his meeting on October 1 with Vietnam ’s Minister of Industry and Trade Vu Huy Hoang who is currently on a visit to India for the 13 th Asia-Pacific Conference of German Business – APK, slated to take place in the capital city of New Delhi on November 2-3.

The Indian minister expressed his belief that two-way trade with Vietnam will fulfill the set target of 7 billion USD in 2015 given retaining the current growth, which was behind the value of over 5 billion USD recorded in 2011 and 3.45 billion USD in 2010.

In addition, Sharma said that India ’s banks have shown their interests in setting up new branches in the Southeast Asian country, while some airlines are keen on establish new direct routes between India and Vietnam in the near future.

The minister also unveiled plans of organising some activities aiming at boosting trade ties between the two countries’ businesses, such as an exhibition with an expected participation of over 100 Indian firms to be held in Hanoi and the scheduled India-ASEAN Business Fair in New Delhi in December./.