PM Dung holds talks with Indian counterpart

PM Nguyen Tan Dung (L) and Indian counterpart Modi, New Delhi, October 28, 2014 - Photo: VGP

The agreement was reached on October 28 during talks between PM Nguyen Tan Dung and his Indian counterpart Narendra Modi during his official tour to the South Asian country.

PM Modi reiterated that India considers Viet Nam as an important pillar in its Look East Policy.

PM Dung hailed the greater role India is playing in the region and the world.

Spuring all-around cooperation

The two sides were unanimous in major orientations and measures to develop the bilateral ties in a practical and efficient manner, especially in the areas of politics, economics, national defense, security, science and technology.

Both sides agreed to beef up exchanges of delegations at all levels and maintain regular contacts.

Viet Nam and India agreed to raise their two-way trade turnover to US$ 15 billion by 2020.

PM Modi also announced that India stands ready to provide a package of US$ 300 million for Viet Nam to import materials for some industries like garments and textiles and footwear.

Indian investors also commit to strengthening their footholds in Viet Nam and supporting the Southeast

Asian country to diversify input materials and develop large-scale infrastructure projects, said Mr. Modi.

The host leader took the occasion to propose Vietnamese enterprises tap opportunities of the Make in India program for mutual benefits.

For his part, PM Dung highly valued the goodwill of India and pledged to create favorable ways for business communities of the two sides to boost economic and investment partnership, especially in advantageous areas such as petroleum, energy, infrastructure construction, IT, and chemicals.

The two sides also agreed to cement connections in other sectors including national defence, security, science, technology, culture and education.

Viet Nam reaffirmed the backing for India to run for a seat at the United Nations Security Council.

Ensuring national rights and interests in the East Sea

Regarding the East Sea issue, the two sides acknowledged the importance of maintaining peace, stability, security, freedom of navigation and aviation in the East Sea.

India underlined its support for the legitimate rights of countries in the East Sea and peaceful solutions to disputes on the basis of international law, the 1982 United Nations Convention on the Law of the Sea (UNCLOS-1982), the full implemenation of the the Declaration on the Conduct of Parties in the East Sea (DOC), and the early building and adoption of a Code of Conduct in the East Sea (COC).

Viet Nam highly valued the Indian stance on the East Sea issue and its commitments to continuing to work with Viet Nam in oil and gas production in Viet Nam’s exclusive economic zone and the continental shelf in the East Sea

On this occasion, the two PMs also witnessed the signing of a series of cooperative documents including an MoU with Nalanda University; an MoU on preservation and restoration of Cham architecture projects in My Son, the southern province of Quang Nam; an MoU on the establishment of an English center; cultural exchange program in the 2015-2017 period and so on.