08:47 | 05/07/2017 Events
Deputy Prime Minister and Foreign Minister Pham Binh Minh and Indian Minister of External Affairs Sushma Swaraj have reiterated their wishes, alongside the determination of their senior leaders, to continue expanding their bilateral relationship to match the agreed comprehensive strategic partnership.
At their talks in New Delhi on July 4, as part of Minh’s visit from July 3-5, the two sides shared their delight at the growing ties between the two countries, since Vietnam and India set up diplomatic ties in 1972, with sound political relations and regular exchanges of delegations through all channels.
The establishment of the strategic partnership in 2007 and the comprehensive strategic partnership in 2016, demonstrate that a strong political trust has formed between the two countries, creating an important framework for them to bolster collaboration across politics-diplomacy, defence-security, economy-trade, science-technology, culture and education, they added.
During the talks, the two sides also agreed on various measures to further foster bilateral cooperation in different fields.
In the economic sector, Minh and Sushma Swaraj stressed the need to take stronger and more effective measures to turn Vietnam and India into important trade partners.
They concurred that the Vietnam-India subcommittee for trade cooperation should convene a meeting, as soon as possible, to seek ways to increase their two-way trade to US$15 billion in 2020, including providing information and support for businesses, creating favourable conditions for the entry of their respective goods, as well as strengthening connections in all fields.
They also agreed to beef up their affiliation within the framework of the ASEAN-India free trade agreement, and foster collaboration with regional countries in accelerating and finalizing the Regional Comprehensive Economic Partnership (RCEP).
Minh noted that Indian investment in Vietnam has reached US$722 million, ranking 26th among 119 countries and territories investing in Vietnam, expressing his hope that India will become one of the leading investors in Vietnam in the near future.
Vietnam wishes for an increased engagement of its businesses in India’s initiatives, including the “Make in India”, “Digital India”, and “Skill India”, he stated.
Both sides agreed to bolster cooperation in promising areas, such as software development, IT, banking-finance, logistics, mechanic manufacturing, garment and textile, energy and renewable energy, and pharmaceuticals.
They affirmed their interests in expanding cooperations in training and scientific research, and cultural and people-to-people exchanges...
As the coordinating country for the ASEAN-India relations in 2015-2018, Vietnam supports India in strengthening their comprehensive cooperation and closer connectivity with the bloc and make positive contributions as a powerful country in Asia, stated Minh.
Meanwhile, Sushma Swaraj reaffirmed India’s commitment to strongly upholding the “Act East Policy”, which places ASEAN in general, and Vietnam in particular, as a major focus...