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Vietnam - India deploy $500 million credit package for defense

Báo Dân tríBáo Dân trí19/11/2024

(Dan Tri) - Besides many practical and specific results during the visit to India, the two countries' signing of a $500 million credit package for defense, according to the Foreign Minister, is a breakthrough.
Vietnam - India deploy $500 million credit package for defense
This was announced by Foreign Minister Bui Thanh Son when speaking to the press after Prime Minister Pham Minh Chinh's State visit to India. The plane carrying Prime Minister Pham Minh Chinh and the high-ranking Vietnamese delegation landed at Noi Bai airport in the early morning of August 2, successfully concluding the State visit to India by the head of the Vietnamese Government.

Bringing Vietnam - India relations into a new, stronger phase

According to the Foreign Minister, Prime Minister Pham Minh Chinh is one of the first foreign leaders that Prime Minister Narendra Modi invited to pay a state visit to India right after his re-election for a third consecutive term. The visit is of great significance, creating new momentum and opening a new page of more substance and depth, with more opportunities in Vietnam-India relations, according to Minister Bui Thanh Son.
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Minister of Foreign Affairs Bui Thanh Son (Photo: Hong Nguyen).
He said that in just two days, the Prime Minister had a dense, rich and diverse working program, with about 25 activities, including talks and meetings with senior Indian leaders, major Indian corporations, and speeches at the Vietnam - India Business Forum and the Indian Council for International Affairs. In particular, the Prime Minister's meetings and meetings with Indian leaders helped affirm the close friendship and the strong traditional friendship between the two countries, as well as affirm the respect and support that the two countries have for each other in the overall foreign policy of each country. During the visit, the leaders of the two countries affirmed the message of further strengthening the Vietnam - India Comprehensive Strategic Partnership in traditional areas such as defense - security, trade - investment, culture - education.
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At the same time, the two sides agreed to expand new areas of cooperation in green economy, digital economy, knowledge economy, increase two-way trade and investment, promote and deepen cooperation in science and technology. "The visit affirms that Vietnam and India always support each other, are ready to cooperate, join hands to build peace, stability, cooperation and development in the Asia-Pacific and Indian Ocean regions," Mr. Son emphasized. According to the Foreign Minister, Prime Minister Pham Minh Chinh's visit has become a strong catalyst, affirming the high determination of the leaders of the two countries in bringing the relationship between the two countries into a new phase, stronger, more practical and effective, with deeper trust, and more open opportunities.
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Signing a series of documents on diplomatic, defense, financial and medical cooperation

Providing specific information about the outstanding results of Prime Minister Pham Minh Chinh's State visit to India, Minister Bui Thanh Son affirmed that the visit was a great success, achieving the set goals with specific and practical results, meeting the concerns and expectations of both sides. In particular, the two sides issued a Joint Statement on Strengthening the Comprehensive Strategic Partnership, signed 9 documents in the fields of diplomacy, defense, finance, health, culture, tourism, human resource training, including the Action Program to implement the Comprehensive Strategic Partnership for the period 2024-2028.
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The two Prime Ministers witnessed the exchange of bilateral cooperation documents (Photo: Doan Bac).
Prime Minister Pham Minh Chinh, Indian Prime Minister Narendra Modi and Indian leaders agreed during their talks to strengthen cooperation in the spirit of "5 more". First, higher political and strategic trust. Minister Bui Thanh Son said that the leaders of the two countries affirmed the importance of increasing delegation exchanges and contacts across Party, National Assembly, Government and local channels and enhancing the effectiveness of cooperation mechanisms. "Vietnam's announcement of joining the Coalition for Disaster Resilient Infrastructure (CDRI) and its affirmation of early completion of procedures to join the International Solar Alliance ISA, two of India's important global initiatives, have contributed to strengthening trust between the two countries," Minister Son emphasized. Second, deeper defense and security cooperation with the effective implementation of the Joint Statement on Vietnam-India Defense Partnership to 2030, expanding cooperation in maritime security, cyber security, and counter-terrorism cooperation. The signing of a $500 million credit package for defense between the two sides was a breakthrough during the visit, according to the Foreign Minister.
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Third, economic, trade and investment cooperation is more substantial, effective and breakthrough. The two sides aim for a two-way trade turnover of 20 billion USD, doubling two-way investment from now until 2030. Minister Bui Thanh Son said that Vietnam has asked India to resolve trade barriers, promote Vietnamese products with strengths to the large and potential market of India such as electronics, textiles, agricultural products; attract large Indian corporations to invest in Vietnam in the fields of infrastructure, pharmaceuticals, energy, etc. On this occasion, businesses of the two countries signed 6 major contracts on aviation, airports and logistics. Of which, Vietjet Air announced a direct flight from Da Nang to Ahmedabad (India), aiming to further increase direct flights between the two countries (currently 54 flights/week). Fourth, science and technology cooperation, innovation and creativity are more open. Accordingly, the two sides agreed to promote cooperation in research and development (R&D), innovation in the fields of core technology, semiconductor chips, artificial intelligence, cooperation in atomic energy, and rare earths.
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The two countries also agreed to expand cooperation in the petrochemical and new energy sectors, promote the establishment of joint ventures to produce information technology products and cooperate in training information technology engineers to meet the development of this industry. The fifth is closer cooperation in culture, tourism and people-to-people exchanges. The two sides agreed to soon sign a cooperation agreement on tourism, strive to soon achieve the goal of doubling the number of tourists compared to the present with about 400,000 visitors/year, continue to cooperate in restoring and preserving Cham Tower heritages in My Son, Quang Nam as well as further diversifying forms of people-to-people exchanges. "With the results achieved, Vietnam-India relations have truly entered a new page," the Foreign Minister emphasized. According to him, based on the results of the visit, ministries, sectors, localities, businesses and people will have more opportunities to strengthen cooperation with India.
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Traditional Indian dance welcomes Prime Minister Pham Minh Chinh and the Vietnamese high-ranking delegation (Photo: Doan Bac).

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