A 50-member Vietnamese business delegation will accompany Prime Minister Nguyen Tan Dung during his two-day state visit here which begins on Monday.

Speaking to newspersons on the Vietnamese Prime Minister’s visit, Sanjay Bhattacharyya, Joint Secretary, Ministry of External Affairs, said that the two countries had exceeded the bilateral trade target of $7 billion ahead of schedule but there was potential to do even better.

“Economic engagement will be the top priority (during the visit). Our aim is to make this a strong pillar of our partnership. Vietnam is keen to diversify its economic base and this provides a window of opportunity for both countries to expand and diversify this economic engagement,” he said.

During 2013-14, trade between the two countries stood at $8 billion registering a growth of over 30 per cent over the previous year, the Ministry Spokesman said.

India and Vietnam have also identified certain key areas to boost trade which include textiles, chemicals including dyes and agro chemicals, machinery, leather and footwear and also services such as finance, tourism and IT, said Bhattacharyya.

The visit also assumes importance as from next year Vietnam will be the country coordinator for India in the Asean which will provide greater possibilities for deeper engagement with the regional body, the Spokesman said.

Prime Minister Nguyen Tan Dung will travel to Bodh Gaya before coming to the National Capital, the Spokesman added. In the Capital, the visiting dignitary will have both restricted and delegation level talks with Prime Minister Narendra Modi apart from calling on the President, Vice-President and meeting with senior Government ministers.