Vietnam and India launch a $500 million defense credit package.
Báo Dân trí•20/11/2024
(Dan Tri Newspaper) - Besides many practical and concrete results from the visit to India, the signing and implementation of a $500 million defense credit package by the two countries, according to the Foreign Minister, is a breakthrough.
This was stated by Foreign Minister Bui Thanh Son in an interview with the press following Prime Minister Pham Minh Chinh 's state visit to India. The special aircraft carrying Prime Minister Pham Minh Chinh and the high-level Vietnamese delegation landed at Noi Bai Airport in the early morning of August 2nd, 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 Minister of Foreign Affairs, Prime Minister Pham Minh Chinh was one of the first foreign leaders that Prime Minister Narendra Modi invited to pay a state visit to India immediately after his re-election for a third consecutive term. The visit was extremely important, creating new momentum and opening a new, more substantive and far-reaching chapter, with more opportunities in Vietnam-India relations, according to Minister Bui Thanh Son. Foreign Minister Bui Thanh Son (Photo: Hong Nguyen). He stated that in just two days, the Prime Minister had a packed, rich, and diverse work schedule with approximately 25 activities, including talks and meetings with high-ranking Indian leaders and major Indian corporations, a speech at the Vietnam-India Business Forum, and a meeting with the Indian Council of International Affairs. In particular, the Prime Minister's meetings and interactions with Indian leaders helped affirm the close friendship and strong traditional relationship between the two countries, as well as the respect and support that both countries have for each other within the overall foreign policy of each country. During the visit, the leaders of both countries affirmed the message of further strengthening the Vietnam-India Comprehensive Strategic Partnership in traditional areas such as defense and security, trade and investment, and culture and education .
At the same time, both sides agreed to expand new areas of cooperation in green economy , digital economy, knowledge economy, increase bilateral trade and investment, and promote and deepen cooperation in science and technology. "The visit affirms that Vietnam and India always support each other, are ready to cooperate, and work together to build peace, stability, cooperation, and development in the Asia-Pacific and Indian Ocean regions," Mr. Son emphasized. According to the Minister of Foreign Affairs, Prime Minister Pham Minh Chinh's visit has become a strong catalyst, affirming the high determination of the leaders of the two countries to bring the bilateral relationship into a new, stronger, more practical, more effective, and more deeply trustworthy phase, with more opportunities.
Signing of a series of cooperation documents in diplomacy, defense, finance, and healthcare.
Regarding the specific 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 its set goals with concrete and practical results, meeting the concerns and expectations of both sides. Specifically, the two sides issued a Joint Statement on Strengthening the Comprehensive Strategic Partnership, and signed nine documents in the fields of diplomacy, defense, finance, health , culture, tourism, and human resource training, including the Action Program for implementing the Comprehensive Strategic Partnership for the period 2024-2028. The two Prime Ministers witnessed the exchange of bilateral cooperation documents (Photo: Doan Bac). Prime Minister Pham Minh Chinh, along with Indian Prime Minister Narendra Modi and other Indian leaders, agreed during their exchanges to strengthen cooperation based on the "five more" principles. Firstly, higher political and strategic trust. Minister Bui Thanh Son stated that the leaders of both countries affirmed the importance of increasing exchanges and contacts through Party, Parliament, Government, and local channels, and enhancing the effectiveness of cooperation mechanisms. "Vietnam's announcement of membership in the Disaster Resilience Infrastructure Alliance (CDRI) and its commitment to soon complete 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. Secondly, deeper defense and security cooperation, with the effective implementation of the Joint Declaration on Vietnam-India Defense Partnership to 2030, and the expansion of cooperation in maritime security, cybersecurity, and counter-terrorism. The signing of the agreement to implement a $500 million defense credit package by both sides was a breakthrough during the visit, according to the Foreign Minister.
Thirdly, economic, trade, and investment cooperation should be more substantive, effective, and groundbreaking. Both sides aim for bilateral trade turnover to reach US$20 billion, doubling bilateral investment by 2030. Minister Bui Thanh Son stated that Vietnam has requested India to address trade barriers and promote Vietnamese products with competitive advantages in India's large and promising market, such as electronics, textiles, and agricultural products; and attract large Indian corporations to invest in Vietnam in infrastructure, pharmaceuticals, and energy. On this occasion, businesses from both countries signed six major contracts related to aviation, airports, and logistics. Among them, Vietjet Air announced a direct flight route between Da Nang and Ahmedabad (India), aiming to further increase direct flights between the two countries (currently 54 flights per week). Fourthly, cooperation in science and technology and innovation should be more extensive. Accordingly, both sides agreed to promote cooperation in research and development (R&D) and innovation in core technologies, semiconductor chips, artificial intelligence, and cooperation in atomic energy and rare earth elements.
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The two countries also agreed to expand cooperation in the petrochemical sector and new energy fields, promote the establishment of joint ventures in the production of information technology products, and cooperate in training information technology engineers to meet the development of this industry. Fifthly, cooperation in culture, tourism , and people-to-people exchanges will be more closely connected. Both sides agreed to soon sign a cooperation agreement on tourism, striving to achieve the goal of doubling the number of tourists to approximately 400,000 per year, continuing cooperation in the restoration and preservation of the Cham Towers in My Son, Quang Nam, as well as further diversifying forms of people-to-people exchanges. "With these achievements, the Vietnam-India relationship has truly entered a new chapter," the Minister of Foreign Affairs emphasized. According to him, based on the results of the visit, ministries, departments, localities, businesses, and people all have more opportunities to strengthen cooperation with India. A traditional Indian dance welcomes Prime Minister Pham Minh Chinh and the high-level Vietnamese delegation (Photo: Doan Bac).
