Vietnam And India Aim For Trade Turnover of US $20 Billion

Prime Minister Pham Minh Chinh and Indian Foreign Minister Subramanyam Jaishankar. Photo: T.H

In a meeting with Indian Foreign Minister S. Jaishankar on his official visit to Vietnam, Prime Minister Pham Minh Chinh emphasized the long-standing traditional friendship between the two peoples.

The relationship was founded by the great leaders of the two nations, President Ho Chi Minh and Mahatma Gandhi, and nurtured by many generations and people of the two countries.

The Prime Minister affirmed Vietnam's respect for the comprehensive strategic partnership between Vietnam and India and expressed satisfaction with the strong development of relations between the two countries.

PM Pham Minh Chinh said the two Foreign Ministries successfully organized the meeting of the joint committee with important results, promptly proposing measures to remove obstacles and promote areas of cooperation.

The Prime Minister asked the Foreign Ministries of the two countries to coordinate and prepare well for high-level activities across channels, regularly maintain bilateral cooperation mechanisms, and promote people-to-people exchanges.

The Indian Foreign Minister appreciated Vietnam's socio-economic development and foreign affairs achievements. The Minister affirmed that India considers Vietnam an important regional partner in implementing the Act East policy.

He said that India wishes to continuously promote its comprehensive strategic partnership with Vietnam.

PM Pham Minh Chinh appreciated defense and security cooperation between the two countries and suggested that India continue to support Vietnam in training, improving the capacity of security and defense forces, and promoting cooperation on cybersecurity.

Emphasizing the complementary strengths of the two economies, Prime Minister Pham Minh Chinh requested ministries and branches of the two sides to implement measures to bring two-way trade turnover to further growth, towards the target of US$20 billion as agreed at the 18th meeting of the Vietnam-India Joint Committee for Economic, Trade, Science.

Accordingly, the two sides need to further facilitate the opening of markets for each other's products, and limit the application of trade barriers.

The two countries consider negotiating and signing cooperation documents to create a favorable corridor for trade, investment, and economic activities, and promote the connection between the two economies in terms of goods, services, interbank payments, and digital payments.

Prime Minister Pham Minh Chinh receives Indian Foreign Minister Subramanyam Jaishankar.

The Prime Minister proposed that India encourage large corporations to invest in Vietnam in important areas such as infrastructure, seaports, logistics, oil and gas exploration, and renewable energy.

He suggested that India continue to support Vietnam in the fields of education and culture, especially by providing scholarships and restoring cultural relics. The Prime Minister hopes that India will create favorable conditions for Vietnamese airlines to open more direct flights to the country's major cities.

Pham Minh Chinh proposed that the two sides expand cooperation in new fields such as digital transformation, response to climate change, energy conversion, and green growth.

Minister S. Jaishankar affirmed that he will coordinate closely with the Ministry of Foreign Affairs of Vietnam to implement the results achieved at the 18th meeting of the Vietnam-India Joint Committee for Economic, Trade, and Science, contributing to deepening the relationship between the two countries, especially in fields of defense-security, economics, trade, investment, science, and technology.

Discussing regional and international issues of mutual concern, the Indian Foreign Minister emphasized that with increasingly complex and unpredictable developments in the international and regional situation, India always values cooperation with Vietnam particularly and ASEAN.

The Minister affirmed that India is always ready to engage more strongly with the region, contributing its voice to preserve peace, and stability, promoting cooperation and development in the region.

Minister S. Jaishankar said India's stance supports the central role of ASEAN and supports ASEAN's basic principles in solving regional problems, including the East Sea issue.

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