The Vietnamese Commercial Counsellor to India Nguyen Tuan Quang told a seminar with the theme “Promoting Vietnam-India Trade and Investment” held for the first time in Madhya Pradesh state, India on May 27.

Mr Quang said Vietnamese businesses would like to cooperate with local partners to learn how to grow soybeans, produce cooking oil from soybeans and feed cattle in Vietnam as Madhya Pradesh’s exports make up 59 percent of India’s total soybean output.

According to the official, two-way trade exceeded US$1.5 billion in 2007, with India-bound export value standing at just US$180 million. Vietnam imported US$450 million worth of soybean oil cakes used as feed for cattle and aquaculture.