News
Many prospects for strengthening Vietnam-India strategic partnership
Nearly 250 scholars and policymakers mulled over the prospects of Vietnam-India ties, India’s diplomatic policy and its impacts on bilateral ties, the “Look East” and “Act East” policy at an international scientific seminar in Hanoi on August 25.
An international scientific seminar “Vietnam - India: new context, new vision” was held in Hanoi on August 25 to celebrate the 70th anniversary of Independence Day of India and the upcoming visit to Vietnam in early September by Indian Prime Minister Narendra Modi.
The seminar gave scholars an opportunity to analyse the impacts of new developments in the world situation on Vietnam-India ties, as well as the influence of the shift in India’s policy from “Looking East” to “Acting East” on the country’s ties with Vietnam and the ASEAN.
Two-way trade between Vietnam and India rose five-fold to over 5 billion USD in 2015 from 1 billion USD in 2007. The main export items of Vietnam to the Indian market are mobile phones, computers, electronic products and components, coal, rubber, ores, plastics materials, chemicals... The country now imports pharmaceuticals, animal feed, machinery, raw materials for production from India.
The flow of travellers between them surged six-fold to 120,000 from 20,000 during the period.
Indian investments in Vietnam rose from nearly 200 million USD to 570 million USD. Most of Indian investments is focused on oil and gas, mining, processing industry, manufacturing, agro-processing and food.
Vietnam has called for cooperation and investment from India in the fields of science and technology, finance and credit, especially information technology, finance and telecommunications, renewable energy.
Vietnam has identified the trade and investment as a strategic goal to reach the bilateral trade turnover in fiscal year 2015 - 2016 of 7.83 billion USD and up 15 billion USD by 2020.
Indian Ambassador to Vietnam Parvathaneni Harish said that the Indian investment in Vietnam nows is at 1.1 billion USD and is expected to increase significantly in the time ahead.
Reports at the seminar highlighted bilateral cooperation achievements made in the fields of economy, energy, national defence-security, culture, education-training, science and technology, especially since the establishment of their strategic partnership in 2007.
The Vietnam-India ties have progressed to an extent that needs to open up a new period, participants shared.
Speaking at the event, Vietnamese Ambassador to India Ton Sinh Thanh said it is time to lift bilateral ties to a comprehensive strategic partnership.
Both nations should be more active to promote mutual understanding and share information, including opportunities in business and tourism, thereby connecting the two peoples and businesses in the new context, the diplomat said, adding that they need to exchange high-level visits to foster political trust, maintain the effective partnership in national defence-security and work closely together at regional and global forums.
According to the Ambassador, Vietnam should be more active in its cooperation with India in science-technology, culture and education, as well as uphold its role as a coordinator in India-ASEAN ties for 2015-2018.
Ambassador Thanh expressed his hope that the traditional friendship and strategic partnership between the two countries are seeing many opportunities and prospects ahead.
The seminar gave scholars an opportunity to analyse the impacts of new developments in the world situation on Vietnam-India ties, as well as the influence of the shift in India’s policy from “Looking East” to “Acting East” on the country’s ties with Vietnam and the ASEAN.
Two-way trade between Vietnam and India rose five-fold to over 5 billion USD in 2015 from 1 billion USD in 2007. The main export items of Vietnam to the Indian market are mobile phones, computers, electronic products and components, coal, rubber, ores, plastics materials, chemicals... The country now imports pharmaceuticals, animal feed, machinery, raw materials for production from India.
Thermal power plant Long Phu 2 in Soc Trang province is invested by India's TATA Power
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Indian investments in Vietnam rose from nearly 200 million USD to 570 million USD. Most of Indian investments is focused on oil and gas, mining, processing industry, manufacturing, agro-processing and food.
Vietnam has called for cooperation and investment from India in the fields of science and technology, finance and credit, especially information technology, finance and telecommunications, renewable energy.
Vietnam has identified the trade and investment as a strategic goal to reach the bilateral trade turnover in fiscal year 2015 - 2016 of 7.83 billion USD and up 15 billion USD by 2020.
Indian Ambassador to Vietnam Parvathaneni Harish said that the Indian investment in Vietnam nows is at 1.1 billion USD and is expected to increase significantly in the time ahead.
Reports at the seminar highlighted bilateral cooperation achievements made in the fields of economy, energy, national defence-security, culture, education-training, science and technology, especially since the establishment of their strategic partnership in 2007.
The Vietnam-India ties have progressed to an extent that needs to open up a new period, participants shared.
Speaking at the event, Vietnamese Ambassador to India Ton Sinh Thanh said it is time to lift bilateral ties to a comprehensive strategic partnership.
Both nations should be more active to promote mutual understanding and share information, including opportunities in business and tourism, thereby connecting the two peoples and businesses in the new context, the diplomat said, adding that they need to exchange high-level visits to foster political trust, maintain the effective partnership in national defence-security and work closely together at regional and global forums.
According to the Ambassador, Vietnam should be more active in its cooperation with India in science-technology, culture and education, as well as uphold its role as a coordinator in India-ASEAN ties for 2015-2018.
Ambassador Thanh expressed his hope that the traditional friendship and strategic partnership between the two countries are seeing many opportunities and prospects ahead.
