India and Vietnam sign agreements to deepen mutual relations

02.08.24
11:45


Society

India and Vietnam sign agreements to deepen mutual relations

India and Vietnam have agreed on the need to strengthen co-operation at government and business levels to boost bilateral trade, investment and technology partnerships

Vietnamese Prime Minister, Pham Minh Chinh, accompanied by a high-level delegation, paid a three-day state visit to New Delhi. He held a meeting with his Indian counterpart Narendra Modi. 

Indian Prime Minister Narendra Modi and his Vietnamese counterpart Pham Minh Chinh emphasised the need for closer cooperation between New Delhi and Hanoi, agreeing to further strengthen the Vietnam-India Comprehensive Strategic Partnership in all spheres. 

The officials expressed support for expanding the voice and role of the Global South in international affairs, as outlined in a joint statement following the visit of the Vietnamese Prime Minister. Building on the existing excellent bilateral relations, they agreed to maintain regular exchanges at all levels.

Modi and Chinh appreciated the multidimensional institutions in place between the countries in foreign policy, security, parliamentary engagement, trade and investment, agriculture, health, civil aviation, information technology, science and technology including space, tourism and culture. 

Prime Ministers Modi and Chinh agreed on the key role of ASEAN Centrality in the evolving regional architecture stability and prosperity. This is reported by
ANI, a partner of TV BRICS.

They supported further strengthening of the ASEAN-India Comprehensive Strategic Partnership which complements bilateral relations with respective Member States.

The two sides agreed to intensify bilateral dialogue in various fields, including the Joint Commission on Economic, Trade and Scientific-Technical Cooperation for mutual benefit. The two sides also signed an Action Plan for the implementation of the Comprehensive Strategic Partnership for the period from 2024 to 2028.

As two rapidly growing economies, India and Vietnam agreed on the need to strengthen cooperation at the government and business levels to increase bilateral trade, investment and technology partnerships, seeking to increase trade volume from the current level of about US$15 billion. 

It was agreed to continue efforts to attract investment between the two countries. Vietnam expressed willingness to accept Indian investment in infrastructure, high-tech, clean technology, information technology and other sectors. In turn, India is open to Vietnamese investment in agriculture, digital technology and healthcare.

The officials noted the significance of digital technologies and suggested developing a framework to promote cooperation in financial innovation and digital payments between Vietnam and India, recognising the priority of digital transformation and energy transition.

“Cultural and people-to-people linkages have also become stronger. In our talks today, we took stock of the ground covered in the last few years”

Narenra Modi Indian Prime Minister

Additionally, the exchange of students, teachers and researchers between universities and other institutions of the two countries was discussed, which should support the Developing India by 2047 initiative and Vietnam’s vision of becoming a high-income nation by 2045.

Photo:
ANI

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