India and Vietnam have agreed on a new trade goal of 25 billion dollars by 2030 and are looking to reinforce cooperation at the level of governments and businesses for increasing two-way trade, investment and technological partnership. The Joint Statement on Enhanced Comprehensive Strategic Partnership between India and Vietnam said that Prime Minister Narendra Modi and President of Vietnam To Lam today emphasized the need to further enhance bilateral trade in a balanced and mutually beneficial manner.
Both the leaders reviewed the entire gamut of bilateral relations and exchanged views on regional and global issues of mutual interest. Acknowledging the evolving global geopolitical and economic landscape, the leaders underscored the growing strategic convergence between India and Vietnam to promote international order based on international law, grounded in peace, stability, cooperation and prosperity in the region and beyond. Both 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, without resorting to threat or use of force. They decided that both sides will facilitate market access, including for agricultural products. They welcomed the decision to grant market access for Indian Grapes and Vietnamese Durians. They also agreed to expedite market access for Indian Pomegranates and Vietnamese Pomelos. The leaders agreed that the ongoing review of the ASEAN India Trade in Goods Agreement, AITIGA should be concluded at the earliest.
Briefing the media after the bilateral talks in New Delhi this afternoon, Secretary East in the Ministry of External Affairs P Kumaran said Prime Minister Modi and President To Lam acknowledged the growing threats of terrorism, transnational crime, money laundering, and online scams. He said President To Lam conveyed Vietnam’s support on the issue of terrorism and counterterror cooperation, and Prime Minister thanked Vietnam for their strong support on the Pahalgam attack.
On defence cooperation, Mr Kumaran said both countries are looking at instituting a two-plus-two Dialogue, which will include the foreign ministry and the defence ministry on either side. He added that the member companies of the Society of Indian Defence Manufacturers visited Vietnam in March this year to explore opportunities for defence procurement by Vietnam, and to understand their needs.
