Prime Minister Narendra Modi and Vietnamese Prime Minister Nguyen Tan Dung, in a joint statement during the latter's two-day state visit, on Tuesday expressed their satisfaction over the progress made by New Delhi and Hanoi in their defence cooperation.
In the statement, Prime Minister Modi and Prime Minister Dung conveyed satisfaction at the progress made in defence cooperation between the two nations, including exchange of visits, annual Security Dialogue, service to service cooperation, ship visits, training, capacity building and cooperation at the regional fora including on humanitarian mine action under ADMM-Plus.
The two leaders called for the early implementation of the USD 100 million Line of Credit Agreement extended by India to Vietnam for defence procurement and expressed hope that the ongoing robust defence and security cooperation between the two nations will continue to be strengthened through regular exchanges at high level.
Further, Prime Minister Modi and Prime Minister Dung agreed that enhancing economic cooperation between both countries should be pursued as a strategic objective. They welcomed the strong growth in bilateral trade in recent years particularly after the implementation of India-ASEAN trade in goods agreement and noted that the conclusion of India-ASEAN trade in services and investment agreements would further boost economic cooperation between India and ASEAN in general and Vietnam in particular.
The two leaders instructed officials on both sides to utilize established mechanisms such as the joint sub-commission on trade as well as closer PPP and B2B contacts for furthering our shared trade and investment objectives. The two leaders also called for close cooperation towards the realization of Regional Comprehensive Economic Partnership Agreement (RCEP).
Prime Minister Modi and Prime Minister Dung emphasized the importance of connectivity between India and Vietnam and welcomed the code share arrangement between Jet Airways and Vietnam Airlines leading to commencement of Jet Airways flights to Ho Chi Minh City from November 5 this year.
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The two leaders also expressed hope that Vietnam Airlines will also commence flight services to India shortly. They also encouraged air carriers of both countries to further open and operate flights between Vietnam and India. They agreed to promote maritime connectivity between the two countries and ship building cooperation.
Prime Minister Dung is on a two-day state visit to India. During his visit, the leader witnessed the signing of seven agreements and memorandums of understanding (MoUs) between the two nations.
On Tuesday evening, he will attend a banquet hosted by Prime Minister Modi before departing.