New Delhi: Strengthening comprehensive strategic partnership remained the key outcome between India and Vietnam following the talk between Vietnamese Prime Minister Pham Minh Chinh and Prime Minister Narendra Modi on Thursday.
In a statement, as two rapidly growing economies, Modi and Chinh agreed to reinforce cooperation at the level of governments and businesses for increasing two-way trade, investment and technological partnership.
The Vietnamese PM is on an official visit to New Delhi. He is the second head of government to visit India in PM Modi's 3rd term. The visit comes days after the passing away of General Secretary of the Communist Party of Vietnam Nguyen Phu Trong.
The Ministry of External Affairs (MEA) said that the leaders agreed to further elevate trade from the present level of around US$ 15 billion. Both sides also agreed on the need for closer cooperation on removing trade barriers with a view to facilitating and enhancing bilateral trade. They concurred that the ongoing review of the ASEAN-India Trade in Goods Agreement should generate a more user-friendly, simple and trade-facilitative regime for both countries.
Both Prime Ministers reviewed the deep-rooted and long-standing friendship between the two countries and expressed their satisfaction with the strong development of bilateral relations since the elevation of the relationship to a Comprehensive Strategic Partnership in 2016.
The leaders agreed to continue the effective implementation of the outcomes of high-level talks and visits in recent years, including the India-Vietnam Joint Vision for Peace, Prosperity and People in 2020, and the outcomes of the meetings between Prime Minister Modi and Prime Minister Chinh on Thursday among others.
The joint statement noted that the leaders agreed that the current geo-political realities call for closer cooperation between the two countries. They recognised convergence in their worldview and expressed support for a greater voice and role for Global South in international affairs.
The leaders agreed to further strengthen the Vietnam-India Comprehensive Strategic Partnership in all areas. The leaders agreed to continue efforts to promote investment flows between the two countries.
Vietnam welcomed investment from India in infrastructure, high technology, source technology, clean technology, information technology, support and manufacturing industries, textile, automobile and materials industry, green agriculture, smart agriculture, innovation and startups, semi-conductors, renewable energy and energy conservation projects, electricity generation, biogas and polyester fabrics, among others, in Vietnam.
Moreover, India welcomed investment from Vietnam in agriculture, agro-processing, aquaculture, wood processing, urban development and infrastructure, production of bamboo and forestry products, hospitality and tourism, digital technology, e-vehicles, healthcare and services in India. This mutual commitment aims to further strengthen the economic cooperation between the two countries, the MEA added.
As two coastal countries in the region, they agreed to bolster cooperation in oceanography, marine sciences and blue economy, as well as in capacity building in this area. The leaders also reiterated their mutually beneficial cooperation in the oil and gas sector, including exploration and production in Vietnam’s continental shelf.
The leaders agreed to enhance the sharing of experiences in building regulations and policies supporting the promotion of e-commerce and the digital economy.
They also encouraged relevant government agencies and businesses of both sides to explore cooperation opportunities in green economy, circular economy, digital economy and critical industries such as rare earth elements, semiconductors, and nano materials.
India-Vietnam defence cooperation
The two leaders further commended the effective implementation of the Joint Vision Statement on the India-Vietem Defence Partnership towards 2030 and the strengthening of defence cooperation between the two countries in recent years covering dialogues, training and capacity building cooperation, exchange of best practices, exercises, defence policy and industry cooperation.
They agreed to further enhance defence cooperation based on mutual interest and priorities of the two countries which will also contribute to greater stability in the wider Indo-Pacific region, the MEA added.
The leaders agreed to continue enhancing cooperation in various areas including human resource development and maintaining collaboration in peace-keeping operations, hydrography, cybersecurity, information sharing, strategic research, maritime security, maritime safety, search and rescue operations, humanitarian assistance, disaster management, and emergency response and relief.
India and Vietnam welcomed the signing of Loan Agreements under US$ 300 million Line of Credit extended by the Government of India to the Government of Vietnam for defence procurement and agreed to expeditiously implement the projects under it.
Regional and International cooperation
Both sides agreed on the key role of ASEAN Centrality in the evolving regional architecture for regional peace, stability and prosperity. They supported further strengthening of the ASEAN-India Comprehensive Strategic Partnership which complements bilateral relations with respective Member States.
The leaders appreciated the ASEAN-India Joint Statement on Cooperation on the ASEAN Outlook on the Indo-Pacific (AOIP) for Peace, Stability, and Prosperity in the Region which provides opportunities for further cooperation between the AOIP and Indo-Pacific Oceans Initiative.
They agreed to continue strengthening cooperation and mutual support at all international fora. India appreciated Vietnam’s consistent support for India’s permanent membership in the reformed United Nations Security Council.
Underlining the link between prosperity and security, the leaders reaffirmed the importance of maintaining peace, stability, security and freedom of navigation and overflight in the South China Sea, while pursuing the peaceful resolution of disputes in accordance with international law, particularly the 1982 United Nations Convention on the Law of the Sea (UNCLOS), without resorting to threat or use of force, MEA said.
Both leaders underscored the importance of non-militarisation and self-restraint in the conduct of all activities by claimants and all other states, and avoidance of actions that could further complicate the situation or escalate disputes affecting peace and stability.
In a strong message to China, they emphasised the legal framework set out by the UNCLOS within which all activities in the oceans and seas must be carried out, and that UNCLOS is the basis for determining maritime entitlements, sovereign rights, jurisdiction and legitimate interests over maritime zones.
Both leaders further called for the full and effective implementation of the Declaration on the Conduct of Parties in the South China Sea (DOC) in its entirety and the substantive negotiations towards the early conclusion of a substantive and effective Code of Conduct in the South China Sea (COC) in accordance with international law, especially UNCLOS, that does not prejudice the legitimate rights and interests of all nations including those not party to these negotiations, the MEA added.
