October 25, 2020 17:26 | About us
Language: Tiếng Việt | ພາ​ສາ​ລາວ | ខ្មែរ | русский | 中文

Vietnam, India aim at 15 billion USD two-way trade

07:21 | 26/08/2020

Vietnam and India should maintain the momentum of trade collaboration in order to bring two-way trade to USD 15 billion, said Deputy Prime Minister and Foreign Minister Pham Binh Minh.

india japan australia to boost supply chain security by reducing dependency on china India, Japan, Australia to boost supply chain security by reducing dependency on China
india china agree to resolve outstanding issues expeditiously India, China agree to resolve outstanding issues expeditiously
samsung denies shifting smartphone production from vietnam to india Samsung denies shifting smartphone production from Vietnam to India
vietnam india aim at 15 billion usd two way trade
The 17th Meeting of the Joint Commission on Economic, Commercial, Scientific and Technological Cooperation between Vietnam and India took place in the form of teleconferencing. Photo: VNA

According to VNA, Minh and Indian Minister of External Affairs Subrahmanyam Jaishankar on August 25 co-chaired the 17th Meeting of the Joint Commission on Economic, Commercial, Scientific and Technological Cooperation between Vietnam and India.

The meeting, which took place in the form of teleconferencing, reviewed the bilateral comprehensive strategic partnership since the 16th edition in August 2018, and put forth measures and orientations for cooperation in the new period, towards the 50th anniversary of the bilateral diplomatic ties (1972-2022).

Minh said the Vietnam-India traditional friendship and comprehensive strategic partnership are developing fruitfully, and the mutual political trust has been consolidated through regular visits and meetings at all levels, via Party, State, Government, National Assembly and locality channels, as well as people-to-people exchanges.

He recalled the phone talks between Prime Minister Nguyen Xuan Phuc and his Indian counterpart Narendra Modi in April amidst the COVID-19 outbreak, saying the two sides agreed to intensify their existing cooperation mechanisms, and soon take stock of the implementation of the 2017-2020 action programme materialising the comprehensive strategic partnership.

Minh and Jaishankar shared the view that the two countries should continue with their close coordination, and the sharing of information and experience in the pandemic fight, both bilaterally and multilaterally.

The Indian minister lauded the Vietnamese government’s efforts and measures against the pandemic, and briefed Minh on countermeasures adopted by the Indian government.

Minh spoke highly of India’s cooperation in consular affairs and citizen protection work.

They reached consensus that defence and security is among the key, effective cooperation areas between the two countries, and highly valued the Vietnam-India National Defence Policy Dialogue and Security Dialogue.

Vietnam applauds India’s support and experience exchange in training peacekeeping forces, Minh said.

He called on the two countries to boost trade and investment ties in the time ahead, and effectively implement outcomes of the fourth meeting of the joint sub-committee on trade that was held in January 2019.

vietnam india aim at 15 billion usd two way trade
Vietnamese Embasssy in New Delhi took part in the virtual meeting. Photo: TGVN

Vietnam and India should maintain the momentum of trade collaboration in order to bring two-way trade to USD 15 billion, and sign a memorandum of understating on cooperation in trade remedy at an early date, thus bringing practical interests to businesses of both sides, Minh said.

The Indian minister pledged to consider Vietnam’s proposals regarding the easing and removal of technical barriers imposed on Vietnam’s exports.

The two sides agreed to call for investments in the areas of India’s strength and Vietnam’s priority like information-technology, energy, infrastructure, and high-tech agriculture.

Bilateral trade has increased significantly, from just USD 200 million in 2000 to USD12 billion in last year. In 2019, India was the seventh largest trading partner of Vietnam.

Both officials said that Vietnam and India hold substantial potential for further cooperation in science-technology, energy, culture, and tourism and people-to-people exchanges, and concurred to soon organise a meeting of the working group on health care in order to address obstacles in the bilateral medical ties.

Minh also appreciated the two sides’ mutual support for each other’s candidacy of multilateral organisations and forums, and thanked India for its assistance to Vietnam within the Mekong-Ganga River Cooperation framework.

Jaishankar affirmed that India attaches importance to ASEAN’s centrality in the region and praised Vietnam’s coordinating role in the ASEAN-India relations during the 2015-2018 period.

They stressed the significance of maintaining peace, stability, security, safety and freedom of navigation and aviation, and the peaceful settlement of disputes in the East Sea in line with international law, especially the UN Convention on the Law of the Sea (1982 UNCLOS).

The two sides announced two important documents signed on this occasion, comprising a memorandum of understanding on cooperation between the Diplomatic Academy of Vietnam and the Indian Sushma Swaraj Institute of Foreign Service, and another on cooperation between the Vietnam Institute of Seas and Islands and the Indian National Maritime Foundation./.

the latest actions of india in the middle of escalating tension with china The latest actions of India in the middle of escalating tension with China

Monitoring Chinese imports, banning series of Chinese charterers and investing more than $ 500 million in the Maldives are India's latest actions in the middle ...

vietnam sends message of sympathy to india over plane crash killing 18 people Vietnam sends message of sympathy to India over plane crash killing 18 people

Vietnam's Prime Minister Nguyen Xuan Phuc has sent a message of condolences to his Indian counterpart Narendra Modi over a recent airplane crash killing 18 people.

indian man tests covid 19 positive after stolen protective suit from hospital thinking it is raincoat Indian man tests COVID-19 positive after stolen protective suit from hospital, thinking it is raincoat

An injured drunken man admitted to a hospital in India allegedly stole an used personal protective equipment (PPE) kit, thinking that it was a raincoat, and ...

Hannah Nguyen