India, Vietnam sign pacts on trade, agriculture and nuclear energy

Tran Dai Quang

Following India -visit for three days, Earlier EAM Sushma Swaraj called on President of Vietnam Tran Dai Quang.

During the talks, Modi said India and Vietnam have also "agreed" to deepen trade and investment ties in sectors such as oil and gas exploration, renewable energy, agriculture and textiles.

He also pointed out that bilateral trade continued to grow even in the current global economic scenario and said trade between the two countries rose from $6 billion to $10 billion in the last five years. Besides this, the two countries signed an MoU on economic and trade cooperation aimed at establishing a framework for enhancing economic and trade promotion.

On defence cooperation, the Prime Minister said both sides made a decision to collaborate in defence production and explore opportunities in transfer of technology.

For his part, Minister Kumar affirmed that the state will create the most favourable conditions for Vietnamese citizens visiting Bodh Gaya and intends to further foster spiritual tourism activities with Vietnam.


Going a step further on Saturday, Mr. Modi said that not only would India and Vietnam strengthen their bilateral relations in oil and gas, "but will also work along with other nations on trilateral possibilities".

The two sides also resolved to harness the potential of trade, minimise barriers and facilitate exports to bring the two way trade to United States dollars 15 billion by 2020, which is now around USD 10 billion. "Vietnamese President Tran Dai Quang was accorded a ceremonial welcome at Rashtrapati Bhavan in the presence of President Shri Ram Nath Kovind and PM Narendra Modi", External Affairs Ministry spokesperson Raveesh Kumar tweeted. In a joint statement after meeting him, Modi said that Vietnam has an "important place" in India's Act East policy and its relations with Association of Southeast Asian Nations.

The Vietnam President said the two countries would together address "regional security challenges especially in spheres of maritime security and cyber-security".

President Hamid visited Vietnam in August 2015, Prime Minister Sheikh Hasina in November, 2015 and Speaker of the Jatiya Sangsad Dr Shirin Sharmin Chaudhury in July, 2017.

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