The two leaders of the governments of Vietnam and India have pledged to expand bilateral cooperation including increasing trade to US$15 billion in 2020.

>> Vietnam-India direct flight to generate more trade, investment: Consul General The pledge was made at their meeting in Hanoi on Monday, a day after Indian President Pranab Mukherjee arrived for a four-day visit to Vietnam at the invitation of his Vietnamese counterpart Truong Tan Sang. The Indian leader was accompanied by Minister of State for Petroleum and Natural Gas Dharmendra Pradhan, Deputy Foreign Minister Anil Wadhwa, among others. At the meeting, the Indian leader told his host that Vietnam is a strategic partner for India within ASEAN and the wider region, as well as an important pillar in India’s Look East Policy. The two sides reviewed the progress in bilateral cooperation including trade, in which the two-way turnover has increased by an average 16 percent each year since 2009, reaching the US$5.23 billion in 2013. The host and guest agreed that the two countries will take measures to boost the figure to US$7 billion in 2018 and to US$15 billion in 2020. Key commodities that are expected to significantly contribute to boosting the two-way trade are textiles and garment, pharmaceuticals and agricultural products, the two leaders agreed. Currently, Vietnam and India are working towards a number of cooperation agreements, including on science and technology, agriculture, aquaculture, and oil and gas exploration and exploitation. Indian has also provided support to Vietnam to train high quality human resources in various fields, particularly information technology, via hundreds of scholarships. Regarding investment, Indian investors are developing 78 direct investment projects worth $254.5 million in Vietnam. The two leaders also devised guidelines and measures for boosting the Vietnam-India strategic partnership, while discussing regional and international issues of mutual concern. It is important to ensure maritime safety and security in the East Sea, settle all disputes through peaceful measures on the basis of complying with international law, especially the 1982 United Nations Convention on the Law of the Sea, implementing the Declaration on the Conduct of Parties in the East Sea (DOC), and promptly establishing a Code of Conduct in the East Sea (COC). After their talks, the two Presidents witnessed the signing of a series of cooperative agreements between the two countries. The same day, Indian President Pranab Mukherjee also had meetings with Party General Secretary Nguyen Phu Trong, Prime Minister Nguyen Tan Dung and National Assembly Chairman Nguyen Sinh Hung.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!