Vietnam and India will organise a number of socio-cultural and economic events during their 2012 Year of Friendship to mark the 40th anniversary of the establishment of Vietnamese-Indian diplomatic ties, said the Indian Ambassador to Vietnam Ranjit Rae.

The Indian diplomat stated this at a press briefing in Hanoi on April 3.

The Chairman of the India-ASEAN Business Promotion Council Shantanu Srivastava, said that he has received a lot of feedback from the two countries’ business communities and many contracts have been signed, as well as several strategic ventures have been set up since the 2011 Vietnam Expo.

In the near future, India will sign more agreements with several of its strategic partners, including Vietnam. Both governments will take key steps to boost two-way trade, which stood at almost 4 billion USD last year and is expected to hit 7 billion USD by 2015, he said.

India sees Vietnam as the main destination for investors in Southeast Asia and the country has an interest in agriculture, food processing, plastics, paper, minerals, oil and steel, he added.

It is eager to take part in Vietnam Expo 2012 to enhance its strategic partnership, raise the two countries’ trade relations to a new level and consolidate their long lasting friendship and solidarity.-VNA