India, Vietnam Ink Several Agreements To Bolster Bilateral Ties

India and Vietnam have signed several MoUs to bolster bilateral cooperation, including one focused on customs capacity building. This agreement, between India's Central Board of Indirect Taxes and Customs and Vietnam's General Department of Customs, aims to enhance customs procedures, improve operational efficiency and share best practices, thereby facilitating smoother trade and strengthening economic ties between the two countries.

New Delhi:In an endeavour to bolster bilateral ties, India and Vietnam on Thursday signed several Memorandum of Understandings, including MoU for cooperation in Customs Capacity Building between the Central Board of Indirect Taxes and Customs of India and the General Department of Vietnam Customs, Vietnam.

An MoU was also signed between Central Agricultural University, Imphal, Manipur and Vietnam Academy of Agricultural Sciences, Hanoi, Vietnam for cooperation in agricultural research and education. Besides that an MoU was inked between the Ministry of Justice of the Socialist Republic of Vietnam and the Ministry of Law and Justice of India on cooperation in the legal field, MoU between Prasar Bharati, New Delhi, India and the Voice of Vietnam (VoV), Hanoi, Vietnam for cooperation on radio and television.

Two Dollar Credit Line Agreements between the Government of Vietnam represented by the Ministry of Finance and the Export-Import Bank of India, amounting to USD 300 million were also finalised. This came after both leaders held talks in the national capital to further expand the comprehensive strategic partnership between the two countries.

Addressing the joint press statement, PM Modi said, "India's relationship with Vietnam has grown stronger with an 85 per cent increase in bilateral trade, along with rising connectivity. His discussions with his Vietnamese counterpart discussed all areas of cooperation towards creating a roadmap for the future."

The list of outcomes also includes a Letter of Intent between the Government of India and the Government of Vietnam for the conservation and restoration of F Block in My Son, Quang Nam Province, Vietnam. Prime Minister Modi also announced a credit line of $300 million to strengthen Vietnam's maritime security and an expanded focus on terrorism and cyber security. The two leaders also agreed on a review and early conclusion of the ASEAN-India Trade in Goods Agreement for mutual trade potential.

Another MoU was signed between the Traditional Medicine Administration Ministry of Health of the Socialist Republic of Vietnam and the National Medicinal Plants Board, Ministry of Ayush of the Government of India, on cooperation in the Field of Medicinal Plants. Prime Minister Modi noted that in India's Act East policy and Indo-Pacific vision, Vietnam is an important partner.

"There is good coordination between our views regarding the Indo-Pacific. We support evolution, not expansionism. We will continue our cooperation for a free, open, rules-based and prosperous Indo-Pacific. We welcome Vietnam's decision to join CDRI. Friends, Once again, I welcome Prime Minister Pham Min Ching. Your visit is adding a new and golden chapter to our relations", he added.

He said, "Looking at the achievements of the last decade, in our discussion today we comprehensively discussed all areas of mutual cooperation. And took several steps towards planning the future. We believe that due to ‘Developed India 2047’ and ‘Vision 2045’ of Vietnam, development has gained momentum in both countries. This is opening up many new areas of mutual cooperation. And so, to further strengthen our Comprehensive Strategic Partnership, today we have adopted a new Plan of Action".

Buddhism is our shared heritage, which has connected the people of both countries at a spiritual level. We invite people from Vietnam to the Buddhist circuit in India. We want that the youth of Vietnam should also take advantage of Nalanda University," he further remarked.

In a post on X, MEA spokesperson Randhir Jaiswal said, "Setting new milestones in bilateral partnership. PM Modi and PM Phạm Minh Chinh of Vietnam held talks to further deepen historic ties between the two countries. Discussions comprehensively covered various areas of bilateral cooperation, including economic, defence, development partnership, cultural exchanges and more. They also exchanged perspectives on regional and global issues."

A special memorandum of understanding was also signed between the Ministry of Culture, Sports and Tourism of the Socialist Republic of Viet Nam and the Ministry of Ports, Shipping and Waterways of the Republic of India on Cooperation and Development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat.

A special emphasis was laid on the plan of action for the implementation of the Comprehensive Strategic Partnership during the 2024-2028 period between the Republic of India and the Socialist Republic of Vietnam.

Both sides virtually inaugurated the Army Software Park at Telecommunications University Nha Trang, Vietnam. Vietnam will also join the Coalition for Disaster Resilient Infrastructure (CDRI) of Action for the implementation of the Comprehensive Strategic Partnership during the 2024-2028 period between India and Vietnam.