NEW DELHI (Biz Hub)— A seminar was held in Chennai city, Tamil Nadu, India, to promote trade ties between Viet Nam and the country.

During the event, Vietnamese Trade Counsellor Nguyen Son Ha provided the participants with information about the Vietnamese economy, and bilateral trade and investment ties between Viet Nam and India.

He introduced them to the ASEAN (Viet Nam) – India free trade agreement, which took effect in June 2010, as well as the tax reduction road map to lure more Indian investors to Viet Nam.

The trade official answered the Indian firms' inquiries about Viet Nam's policies to attract foreign direct investment, including the Law on Foreign Investment, preferential treatment, and current policies on import-export management.

Ha provided the participants with contact details for related Vietnamese agencies and invited them to participate in several trade fairs to be held in Viet Nam later this year and in coming years.

Both countries are striving to achieve an annual bilateral trade turnover of $7 billion by 2015.