India, Vietnam sign 3 pacts to expand bilateral trade

Modi and Quang discussed ways to enhance cooperation in key areas of defence and trade.

India, Vietnam sign 3 pacts to expand bilateral trade

New Delhi: India and Vietnam signed 3 pacts including on nuclear cooperation after talks between PM Narendra Modi and Vietnamese President Tran Dai Quang.

Modi and Quang discussed ways to enhance cooperation in key areas of defence and trade. The two leaders discussed a range of issues, including cooperation in the field of nuclear energy.

"We will jointly work for an open, independent and prosperous Indo Pacific region where sovereignty and international laws are respected and where differences are resolved through talks," Modi said in a media statement in the presence of the Vietnamese President.

"Both sides are committed towards expanding the bilateral maritime cooperation and for an open, efficient and rules-based regional architecture," he said.

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.

"PM @narendramodi welcomes Vietnamese President Tran Dai Quang on his first State visit to India at the Hyderabad House ahead of the bilateral talks. India and Vietnam enjoy warm and cordial relationship with common roots in history. #ActEastPolicy," Kumar tweeted.

Earlier in the day, External Affairs Minister Sushma Swaraj called on the Vietnamese president.

Their discussions focused on steps to further strengthen country's comprehensive strategic partnership by expanding cooperation across all sectors,  Kumar said.

Quang was also given a ceremonial reception at the Rashtrapati Bhavan.

The Vietnamese President, who is on a three-day visit to India, arrived here on late Friday evening. President Quang is also expected to interact with prominent Indian businessmen.

The Vietnamese President is leading an 18-member delegation, including ministers, party leaders, and businessmen.

Prime Minister Modi had visited Vietnam in 2016, a year before the two countries celebrated 45 years of honouring diplomatic ties.During this visit, the two countries signed 12 agreements in a wide range of areas covering IT, space, double taxation and sharing white shipping information.

India had also extended a USD 500 million Line of Credit to Vietnam for facilitating deeper defence cooperation between the two sides.

 

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