NEW DELHI: 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.
Vietnam Prime Minister Pham Minh Chinh, who was on an official visit to India, was accompanied by a delegation of ministers for the bilateral visit.
“We had very productive talks with PM of Vietnam and discussed sectors like defence, maritime trade and green economy for closer cooperation,’’ said PM Narendra Modi.
The two sides agreed to further enhance defence cooperation based on mutual interest and priorities of the two countries facilitating contribution to greater stability in the wider Indo-Pacific region.
It was also 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.
“No country should be allowed to use our land as a military base. We are witnessing regional conflicts and would like to establish peace with India as a partner. There should be peace in Indo-Pacific. There should be peace at South China sea, Red Sea, West Asia and Myanmar,’’ said PM Chinh.
India’s first PM Jawaharlal Nehru visited Vietnam in 1954 and Vietnamese President Ho Chi Min came to India in 1958.
Meanwhile, in a joint statement, the two leaders agreed to further elevate trade from the present level of around $ 15 billion. “Underlining the link between prosperity and security, the leaders reaffirmed the importance of maintaining peace, stability, security and freedom of navigation and overflight in the South China Sea, while pursuing the peaceful resolution of disputes in accordance with international law, particularly the 1982 UN Convention on the Law of the Sea, without resorting to threat or use of force,” read the joint statement.