Speaking at the opening ceremony on November 14, Indian President Ram Nath Kovind described Vietnam as a pillar in India’s Act East Policy.

He expressed his belief that the IITF, which lasts till November 27, will help reinforce the bilateral trade relations.

Meanwhile, India’s Minister of Trade Suresh Prabhu highlighted Vietnam as an important trade partner of India.

According to the Vietnam Customs, two-way trade reached US$5.62 billion in the first nine months of 2017, a year-on-year rise of 43.4%.

The Indian Ministry of Industry and Trade expects the bilateral trade to hit US$10.73 billion at the end of this year.

Nearly 3,000 enterprises are taking part in the trade fair.