Vietnam and India have reaffirmed in a visit to Hanoi by Indian President Ram Nath Kovind that they will continue strengthening cooperation in military and oil and gas exploitation. 
Vietnamese President Nguyen Phu Trong welcomes Indian counterpart Ram Nath Kovind. Photo: Vnexpress
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The two countries emphasized the need of implementing the 1982 UN Convention on the Law of the Sea (UNCLOS) and the Conduct of Parties in the South China Sea (DOC).
India and Vietnam held their first joint drill in the Bay of Bengal in October 2018 to strengthen “working-level” relations among many naval exercises, the Press Trust of India says.
President Kovind said that Indian agencies are speeding up the US$100 million credit line for the building of warships for Vietnam.
In September 2016, India’s Prime Minister Narendra Modi announced a credit line of US$500 million for procurement of defense equipment for Vietnam. Hanoi has bought four large patrol vessels that will enable Vietnam to patrol its waters. In 2014, India signalled it could sell Vietnam the Brahmos supersonic anti-ship cruise missiles.
Strengthening fuel exploitation
Over the past four years, the overseas subsidiary of India’s government-run ONGC has worked with Vietnam Oil and Gas Group (PetroVietnam) to search for oil and gas in the South China Sea, to which Vietnam refers as East Sea.
With more than 3,600 kilometers of coastline, Vietnam needs outside expertise and investment to find gas and oil off its long seacoast.
Vietnamese President Nguyen Phu Trong and his Indian counterpart said that the two countries encourage ONGC and PetroVietnam to continue the search and exploiting practices off Vietnam’s shore.
Vietnamese PM Nguyen Xuan Phuc meets Indian PM Narendra Modi in New Delhi in January 2018. Photo: Chinhphu.vn
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India affirms Vietnam is a strategic pillar in its “Look East” policy and an important dialogue partner in its relations with the Association of South East Asian Nations (ASEAN).
The visit advances a long-standing, fast-improving friendship that began in the 1970s. Following with the growing friendship, the two-way trade is about US$12.8 billion this year and may reach US$15 billion by 2020 and Indian investment in Vietnam is expected to amount to US$2 billion then.
