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​Vietnam, India strive for $15bn bilateral trade turnover by 2020

​Vietnam, India strive for $15bn bilateral trade turnover by 2020

Sunday, March 04, 2018, 12:39 GMT+7

Vietnam and India have agreed to strengthen their comprehensive strategic partnership and strive for US$15 billion worth of bilateral trade turnover by the year 2020.

Vietnamese State President Tran Dai Quang joined talks with Indian Prime Minister Narendra Modi in New Delhi on Saturday, as part of his state visit to India from March 2 to 4, according to the Vietnam News Agency.

During their conversation, the two leaders praised the development of the Vietnam-India relationship in the past 45 years, since the two countries officially set up their diplomatic relations.

They agreed to fully implement the high-level political commitments and the approved documents on political ties, increasing mutual visits at all levels and enhancing cooperation between Parties, states, governments, parliaments, and localities.

Both sides established the goal to reach $15 billion worth of bilateral trade turnover by 2020, agreeing to carry out breakthrough solutions, including diversifying export goods, minimizing trade barriers, improving trade policies, and expanding aviation and navigation connectivity.

Focus will also be directed to cooperation in infrastructure, human resources, and science and technology.

Vietnam welcomes investment from Indian businesses in such fields as energy, infrastructure, education, and information technology, President Quang remarked.

The Vietnamese leader looked for the upcoming visit to his country by the Indian defense minister, expressing his appreciation for India’s contribution to defense ties and support for Vietnam in United Nations peacekeeping operations.

President Quang and PM Modi consented to underline the importance of maintaining peace and stability, and peaceful solutions of disputes, in accordance with international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

They also underscored the need to fully and effectively implement the Declaration on the Conduct of Parties in the East Vietnam Sea (DOC) and the establishment of a Code of Conduct (COC) for the maritime area.

India will continue to promote the implementation of its “Act East Policy” to boost its cooperation with the Asian-Pacific region, noting that Vietnam plays a key role in the policy, Modi said.

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Duy Khang / Tuoi Tre News


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