India and Vietnam on Monday agreed to strengthen defence cooperation through the joint production of military equipment, while also working to expand bilateral trade by developing stronger supply chains and widening market access.
External Affairs Minister S Jaishankar and Vietnam's Foreign Minister Le Hoai Trung discussed ways to deepen cooperation across several sectors during the 19th India-Vietnam Joint Commission Meeting (JCM) on trade, economic, scientific and technological cooperation.
India, Vietnam to deepen defence cooperation
The two sides identified further defence and security collaboration as a key area of cooperation, including the co-production of Indian defence equipment.
The discussions are part of efforts to strengthen the India-Vietnam Enhanced Comprehensive Strategic Partnership and expand practical cooperation between the two countries.
India and Vietnam had last year signed a letter of intent to strengthen collaboration between their defence industries. The two countries also agreed to establish a framework for submarine search, rescue and support.
India-Vietnam trade: Focus on supply chains and market access
The two countries agreed to work towards expanding trade and investments while developing mutually beneficial supply chains.
The Ministry of External Affairs (MEA) said the two sides would also explore greater market access for Indian marine and agricultural products as well as pharmaceuticals.
India and Vietnam had in May elevated their relationship to an Enhanced Comprehensive Strategic Partnership and set a target of USD 25 billion in annual bilateral trade by 2030.
Air connectivity, nuclear energy and space cooperation
Beyond defence and trade, India and Vietnam agreed to expand cooperation in several strategic and economic sectors.
The areas identified for deeper engagement include:
- Air and port connectivity
- Nuclear energy
- Space
- Heritage conservation
- Standards for seafarers
- Capacity building
- People-to-people ties
The expansion of air connectivity is expected to support stronger business, tourism and people-to-people links between the two countries.
Jaishankar calls Vietnam a key partner in Act East Policy
Jaishankar described Vietnam as an important partner in India's Act East Policy, its MAHASAGAR vision and its broader Indo-Pacific outlook.
“Vietnam is equally an important partner” in India's Comprehensive Strategic Partnership with ASEAN, Jaishankar said in his opening remarks at the meeting.
Prime Minister Narendra Modi announced the MAHASAGAR vision, Mutual and Holistic Advancement for Security and Growth Across Regions, during his visit to Mauritius in March last year as part of India's engagement with the Global South.
India, Vietnam discuss South China Sea and West Asia
The two sides also exchanged views on regional and global developments of mutual interest, including the situation in West Asia and the South China Sea.
The South China Sea remains a major regional flashpoint, with China asserting extensive territorial claims that are contested by countries including Vietnam, the Philippines and Brunei.
India and several other countries have called for disputes in the region to be resolved peacefully and in accordance with international law, including the UN Convention on the Law of the Sea (UNCLOS).
Inputs from PTI
