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VN, Indian officials agree to boost trade to $15 billion

Update: May, 26/2015 - 09:21
They agreed to elevate two-way trade to US$15 billion by 2020 and increase all-round collaboration, especially in politics, economics, national defence and security, science and technology, culture and education. — VNA/ VNS Photo Minh Quyet

HA NOI (VNS) — Viet Nam and India met for their seventh deputy-ministerial level political consultation meeting and the fourth meeting of their strategic dialogue in Ha Noi yesterday.

Vietnamese Deputy Foreign Minister Le Hoai Trung and his Indian counterpart Anil Wadhwa talked extensively about all possible steps to further facilitate visits, thus laying a firm foundation for more co-operations.

They agreed to elevate two-way trade to US$15 billion by 2020 and increase all-round collaboration, especially in politics, economics, national defence and security, science and technology, culture and education.

Trung reiterated Viet Nam's consistent policy of valuing its traditional friendship and strategic partnership with India, backing India's Act East policy and its connectivity with Southeast Asia.

Wadhwa said India considers Viet Nam a significant pillar in its Act East policy.

Turning attention to regional and global issues of shared concern, both sides vowed mutual support at regional and global forums, especially the UN, the Non-Aligned Movement, the World Trade Organisation, ASEAN and other multilateral forums.

India affirmed it would back Viet Nam's bid for a seat at the UN Security Council for the 2020-2021 tenure. Viet Nam also declared its support for India's membership in the UN Security Council for the 2021-2022 tenure and its permanent membership status once the mechanism expands.

On the East Sea issue, the India voiced support for Viet Nam and ASEAN's position on the settlement of disputes by peaceful means in line with the 1982 United Nations Convention on the Law of the Sea and the Declaration on the Conduct of Parties in the East Sea, towards the early formulation of the Code of Conduct in the East Sea.

The guest committed to continued joint work to tap oil and gas reserves in Viet Nam's waters. — VNS

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