Economic experts of the two countries were speaking at a seminar on India's economy and the Vietnam-India economic relationship held by the Vietnamese Embassy in New Delhi, India, on December 28.

The experts agreed that economic co-operation is always given the top priority in bilateral co-operation and the prospects of economic co-operation are promising as their economies have seen rapid development.

Vietnam and India have signed many agreements on economic development, including treaties on trade, investment promotion and protection, double-tax avoidance, and co-operation in scientific and technological, aviation and tourism.

Their two-way trade, it remains modest, representing only 1 percent of Vietnam's total trade turnover and 0.4 percent of India's, despite the fact that it increased from US$50 million in 1991 to US$667 million in 2004.

The two countries have also reached agreements to give priority to cooperation in bio-technology, information technology, computerisation, and nuclear energy.

India has invested US$45.4 million in 10 projects in Vietnam, focusing on sugar and cooking oil production, oil and gas industry, pharmaceutical and plastic industries. The country now ranks 35^th among 70 countries and territories investing in Vietnam.