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India- Vietnam
Context: Vietnamese Prime Minister Pham Minh Chinh arrived in New Delhi on a three-day visit aimed at deepening the strategic ties between India and Vietnam.
Outcomes of the Meeting:
- The agenda includes further energising the India-Vietnam Comprehensive Strategic Partnership.
- India and Vietnam have signed loan agreements worth $300 million through a credit line that will help the Southeast Asian nation to undertake and complete its maritime projects.
- Agreed to continue enhancing cooperation in human resource development and maintaining collaboration in peace-keeping operations, hydrography, cyber security, information sharing, strategic research, maritime security and search & rescue operations.
India-Vietnam Relation:
Important Milestone:
- 2007: Vietnam and India upgraded their relations to a ‘Strategic Partnership’.
- In 2016, the relationship was further elevated to a “Comprehensive Strategic Partnership.”
- In 2020, they adopted a historic “Joint Vision for Peace, Prosperity and People” to guide future bilateral relations.
Economic Relation:
- According to Indian data bilateral trade reached US$ 14.14 billion.
- Indian exports to Vietnam amounted to US$ 6.70 billion
- The main Indian export basket to Vietnam includes iron and steel, cotton, cereals, meat and fishery products, electrical machinery and equipment.
- Indian imports from Vietnam amounted to US$ 7.44 billion.
- India’s import baskets from Vietnam mainly included electrical and electronic equipment, inorganic chemicals, machinery and mechanical appliances.
- India has oil exploration projects in the Vietnamese waters in the South China Sea done by ONGC- Videsh.
Defence and Security Relations:
- Defence is the most important pillar of the relationship.
- India gifted its in-service missile corvette INS Kirpan to Vietnam amid common concerns over China’s increasingly aggressive behaviour.
- It was for the first time that India handed over a fully operational corvette to any friendly foreign country.
- India and Vietnam have boosted their maritime security cooperation in the last few years to protect common interests.
- VINBAX is a series of joint military drills.
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Areas of Cooperation:
Area of Divergence in Relation:
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Way forward:
- Expanding cultural and people to people ties:India and Vietnam share civilisational links and a longstanding friendship based on mutual trust.
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- The Swami Vivekananda Indian Cultural Centre was established in Hanoi in 2016.
- Both countries have never had any conflict, either in history or in modern times.
- Collaboration in green economy:
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- Both countries are exploring opportunities in green hydrogen production.
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- India and Vietnam are working to increase investments in renewable energy, particularly solar and wind power.
- Partnerships between Indian and Vietnamese companies in developing waste treatment plants and pharmaceutical industrial parks.
- India and Vietnam are working to increase investments in renewable energy, particularly solar and wind power.
