• India and Vietnam have adopted a new plan of action to further strengthen ‘Comprehensive Strategic Partnership’.

• At the invitation of Prime Minister Narendra Modi, Vietnam’s PM Pham Minh Chinh paid a state visit to India.

• After his wide-ranging talks with Pham Minh Chinh, Modi said the agreed $300 million credit line for Vietnam will strengthen the Southeast Asian nation’s maritime security.

• Defence cooperation is one of the strong pillars of ‘Comprehensive Strategic Partnership’ between India and Vietnam. 

Highlights of the meeting:

• The leaders reviewed the deep-rooted and long-standing friendship between India and Vietnam and expressed their satisfaction with the strong development of bilateral relations since the elevation of the relationship to Comprehensive Strategic Partnership in 2016.

• They welcomed the signing of the Plan of Action for the implementation of the Comprehensive Strategic Partnership for the period of 2024-2028.

• The leaders appreciated multi-dimensional institutional mechanisms between the two countries in the fields of foreign policy, security and maritime domain, defence cooperation, parliamentary exchanges, trade and investment, agriculture, healthcare, civil aviation, information and communication technology, science & technology including space & nuclear technology, tourism and culture. 

• They agreed to intensify and strengthen the bilateral dialogue in various domains, including the Joint Commission for Economic, Trade, Scientific & Technological Cooperation for mutual benefit. 

• As two rapidly growing economies, both sides agreed to reinforce cooperation at the level of governments and businesses for increasing two-way trade, investment and technological partnership. 

• The leaders agreed to further elevate trade from the present level of around $15 billion.

• India welcomed Vietnam’s decision to join the Coalition for Disaster Resilient Infrastructure and decision for early completion of procedures to sign the International Solar Alliance Framework Agreement. 

India-Vietnam Relations

• India and Vietnam share traditionally close and cordial bilateral relations. India was the chairman of the International Commission for Supervision and Control (ICSC) which was formed in pursuant of the Geneva Accord of 1954 to facilitate the peace process in Vietnam. 

• India initially maintained consulate-level relations with the then North and South Vietnam and later established full diplomatic relations with unified Vietnam on January 7, 1972. 

• Vietnam, an important country of the ASEAN (Association of Southeast Asian Nations), has territorial disputes with China in the South China Sea region.

• India has oil exploration projects in the Vietnamese waters in the South China Sea. India and Vietnam are boosting their maritime security cooperation in the last few years to protect common interests.

• Vietnam is an important partner in India’s Act East policy and the Indo-Pacific vision.

• Bilateral defence engagements have expanded over a period of time to include wide-ranging contacts between the two countries, including through defence policy dialogues, military-to-military exchanges, high-level visits, capacity building and training programmes and cooperation in the UN peacekeeping and bilateral exercises.

• Relations between the two countries were elevated to the level of ‘Strategic  Partnership’ during the visit of Vietnam's then Prime Minister Nguyen Tan Dung to India in July 2007.

• In 2016, during Prime Minister Narendra Modi’s visit to Vietnam, bilateral relations were further elevated to a ‘Comprehensive Strategic Partnership’. 

• From $200 million in the year 2000, bilateral trade between India and Vietnam has seen steady growth over the years. 

• In the year April 2023-March 2024, India-Vietnam trade stood at $14.82 billion where India’s export to Vietnam amounted to $5.47 billion and Vietnam’s exports to India were $9.35 billion. 

• Main Indian exports to Vietnam include engineering goods, agricultural products (including meat and fishery products), chemicals and pharmaceuticals, electronic goods, minerals, cotton and textiles, plastics, etc.

• India’s imports from Vietnam mainly comprise of computer and electronic goods, mobile phones & accessories, machinery & equipment, steel & other metals, chemicals, footwear, garments, rubber, wooden products, etc.

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