Việt Nam, India target better trade ties

January 25, 2018 - 06:00

Việt Nam and India have agreed to boost their defence-security ties while economics and trade partnerships will be promoted toward a bilateral trade goal of US$15 billion by 2020.

Prime Minister Nguyễn Xuân Phúc (right) meets Indian President Ram Nath Kovind in India yesterday. — VNA/VNS Photo Thống Nhất
Viet Nam News

NEW DELI – Việt Nam and India have agreed to boost their defence-security ties while economics and trade partnerships will be promoted toward a bilateral trade goal of US$15 billion by 2020.

Prime Minister Nguyễn Xuân Phúc and Indian President Ram Nath Kovind made the agreement during their meeting in New Delhi yesterday, as part of the Vietnamese Government leader’s visit to attend the ASEAN – India Summit in India.

They also agreed to frequently hold high-ranking delegation visits between their parties, governments and parliaments, and to hold exchanges between localities and people.

Both leaders said they are pleased with the growth of Việt Nam – India ties and co-operation since the bilateral relationship was upgraded to a comprehensive strategic partnership in September 2016.

They lauded meaningful events throughout the Việt Nam – India friendship year 2017, which marked 45 years of diplomatic relations and 10 years of the strategic partnership between the two countries. These events contributed to boosting public understanding on the relationship and bilateral collaboration, they said.

Lauding Việt Nam’s co-ordination role in ASEAN – India ties, President Ram Nath Kovind said Việt Nam is an important pillar in India’s Act East Policy. He vowed to make stronger efforts to promote the two countries’ partnership based their 45-year-old relations.

PM Phúc stated Việt Nam’s consistent policy to treasures ties with traditional friends like India.

The Indian side said it will continue supporting Việt Nam in training high-quality human resources and offering more development support packages and preferential credit to the country.

PM Phúc took the occasion to invite the Indian President and his spouse to visit Việt Nam.

Meeting with CEOs

Earlier the same day, PM Phúc met with top executives of several leading Indian businesses, namely Tata, Larsen & Toubro (L&T), ONGC and vDoIT.

Talking to Managing Director of Tata Power Anil Sardana, PM Phúc said the Vietnamese Government will create favourable conditions for the two countries’ enterprises to bring investment and business activities on par with political ties.

Sardana affirmed his group’s commitment to expanding production and business projects in Việt Nam in a long-term and sustainable manner.

At a meeting with Managing Director of L&T Subrahmanyan, PM Phúc asked the firm to carry out shipbuilding projects in Việt Nam. It should also co-operate with Vietnamese firms in the same fields to transfer corresponding technologies to Việt Nam.

Việt Nam wants to build solar and wind power factories, and encourages foreign enterprises, including L&T, to partner with local companies to carry out these projects, the Government leader added.

Subrahmanyan informed PM Phúc about L&T’s successful co-operation projects with Vietnamese businesses and agencies, especially in building patrol boats for the coast guard.

He added that L&T, a multinational group operating in energy, defence, technology, construction, manufacturing and finance industries, is interested in metro projects in Việt Nam and wants to engage in the construction of these projects.

Meeting Narendra K.Verma, Managing Director of India’s Oil and Natural Gas Corporation (ONGC), PM Phúc asked the group to continue its co-operation with Vietnamese partners in oil and gas exploration and exploitation, as well as production and processing.

Verma said that the group will continue expanding business activities in the country.

At a meeting with Sudheer Pandharpurkar – chairman of vDoIT, which operates in the IT sector and provides technological services and solutions in health care, education, human resources development and e-government, PM Phúc welcomed vDoIT’s implementation of the Smart Village project in Việt Nam, adding that if the project is successful, it will help improve rural residents’ living standards.

Pandharpurkar said the Smart Village project is being carried out in 43 villages in northern Hà Nam and Ninh Bình Provinces. It will implement service and solution packages on education, telemedicine, human resources development and hi-tech agriculture. —VNS