Trade between India and Germany will reach the targeted mark of US$ 26.16 billion (Euro 20 billion) this year, Commerce Industry & Textile Minister Anand Sharma said.

Mr. Sharma was speaking to reporters after his meeting with Germany's Economic & Technology Minister Dr. Phillipp Roesler.

Speaking on the topic, Sharma said, "India and Germany have set a trade target of Euro 20 billion to be achieved by 2012 and I am sure that we will be able to reach this target if not cross it with efforts from both sides."

Mr. Sharma also met Vietnam's Minister for Trade & Industry, Dr. Vu Huy Hoang, in New Delhi. After the meeting, Mr. Sharma said that India was looking forward to flexibility in trading rules by Vietnam in finishing this deal by the targeted timeline of early 2013.

He added that airline companies from both India and Vietnam have showed interest in beginning direct air operations between the two countries.

India has also set a bilateral trade target of $7 billion with Vietnam for the year of 2015. India is also impressing upon Vietnam to assume a flexible approach to pave way for early conclusion of a motivated agreement on services & investment, following the inclusive trade in goods agreement.

The Indian Commerce Industry & Textile Minister also said informed that India was considering organizing an `India Show' in Vietnam, in which from more than one hundred Indian companies will participate in the near future. In addition, the Apparel Export Promotion Council (AEPC) was planning to organise a fashion show in Hanoi and Ho Chi Minh City before the end of 2012.