India, Vietnam sign agreements to boost cooperation

INDIA and Vietnam have signed seven agreements to boost cooperation in various fields including defence, renewable energy and petrochemicals.

In a virtual summit on Monday between Indian Prime Minister Narendra Modi and his Vietnamese counterpart Nguyen Xuan Phuc, the countries also announced three cooperation programmes in heritage preservation and cultural exchange.

According to Indian news outlets, Modi described Vietnam as "an important pillar of India's Act East policy and an important ally of its Indo-Pacific vision."

"We see our relationship with Vietnam from a long term and strategic view. Peace, stability and prosperity are our common objectives in the Indo-Pacific region.

"Our partnership can contribute significantly to maintain stability and peace in the region," Modi said.

Vietnam's Foreign Affairs Ministry said the agreements included areas such as nuclear power and cancer treatment.

According to the Straits Times, the South China Sea featured prominently in the talks at a time when both countries have seen a downturn in ties with China.

Asean and China have also been seeking to resume talks on a maritime code of conduct.

The two countries also released a document called India-Vietnam Joint Vision for Peace, Prosperity and People, where both leaders underscored the importance of non-militarisation and self-restraint in the conduct of all activities by claimants and all other states.

India is embroiled in a border stand-off with China in the Himalayas, the worst in over four decades while Vietnam has competing claims with China near the Paracel Islands in the South China Sea.

During the summit, Modi also invited Vietnamese companies to invest in India and highlighted the urgent need for a long overdue review of the Asean-India Trade in Goods Agreement (Aitiga) as a concrete step towards revitalising economic engagement between India and Vietnam as well as the larger Asean region.

Meanwhile, the Vn Express news portal reports the two leaders also expressed their satisfaction at the building of 12 high-speed patrol vessels for the Vietnam Coast Guard as part of India's US$100 million line of credit.

Five vessels are being built at the Larsen & Toubro shipyard in Chennai, with the rest to be built at Hong Ha shipyard in northern port city Hai Phong under the Indian firm's supervision.

Analysts have also said that defense and security cooperation was an important pillar of the Vietnam-India partnership.

During the summit, both leaders reaffirmed their commitment to strengthening cooperation against common global challenges, including the Covid-19 pandemic, agreeing to ensure access to vaccines.

Vietnam has managed to contain its Covid-19 outbreaks with total infections at 1,414 and 35 deaths in the population of 96 million while India remains the world's second biggest coronavirus hotspot with over 10 million infections and 146,145 deaths.

India and Vietnam will concurrently serve as non-permanent members of the United Nations Security Council from 2021, opening up new opportunities for cooperation and coordination on regional and international issues.

Vietnam and India established diplomatic ties in 1972.

India, a staunch ally in Vietnam's fight for independence and reunification, is also one of Vietnam's top trading partners, with two-way trade turnover reaching US$11.3 billion last year, double that of 2016, according to Vietnam Trade Affairs Office in India.

Vietnam is India's 18th largest trading partner globally and the fourth largest within Asean, after Singapore, Indonesia and Malaysia.

Source: New Straits Times