Viet Nam – India sign agreements on strategic partnership


Viet Nam – India sign agreements on strategic partnership

In the morning15/9, President Truong Tan Sang had high-level talk with Indian President Pranab Mukherjee at the Presidential Palace.

The President of the Republic of India, Mr. Pranab Mukherjee is on a State visit to the Socialist Republic of Vietnam from September 14-17, 2014 at the invitation of Mr. Truong Tan Sang, President of the Socialist Republic of Vietnam.

President Pranab Mukherjee was accorded a welcome ceremony at the Presidential Palace in Hanoi on September 15, 2014.

President Pranab Mukherjee visited the Ho Chi minh’s Residential Complex and laid wreath at the Memorial of National Heroes and Martyrs. The President jointly inaugurated the Center for Indian Studies at the Ho Chi Minh National Academy of Politics and Public Administration.
To this end, they agreed to promote bilateral cooperation mechanisms, esp ecially the inter-governmental committee, political consultation, strategic dialogue on security, and others.

In the afternoon of the same day, President Pranab Mukherjee held bilateral talks with Truong Tan Sang who also hosted a state banquet. President Pranab Mukherjee met and discussed with Mr. Nguyen Phu Trong, General Secretary of Vietnam Communist Party, Mr. Nguyen Tan Dung, Prime Minister of Vietnam, and Mr. Nguyen Sinh Hung, Chairman of the National Assembly of Vietnam.

According to his schedule, President Pranab Mukherjee will visit Ho Chi Minh City from September 16-17, 2014 and meet with Mr. Le Thanh Hai, Secretary of the Communist Party of Ho Chi Minh City and Mr. Le Hoang Quan, Chairman of Ho Chi Minh City People’s Committee.

Currently, the traditional friendship and strategic partnership between Vietnam and India is developing steadily. Vietnam and India are trade partners. In 2013 two-way trade totaled 5.23 billion USD, 32% higher than in 2012 and is likely to reach 7 billion USD in 2015. This figure is expected to b 15 billion USD by 2020.

Major Vietnamese export items to India include mobile phones accessories and machinery. Vietnam imports from India mainly maize, animal feeds and pharmaceutical products. The two countries’ investment relation is expected to rise once India’s TATA Group implements the Long Phu II Thermal Power Project in Soc Trang worth 1.8 billion USD. So far, India has had 73FDI projects worth 273 million USD in Vietnam. In the last three years India has granted Vietnam preferential credit of 19.5 million USD, of which 10 million USD was for the Nam Trai No 4 Hydro-Power Plant in Son La Province. The two sides are discussing the terms of a 100 million USD credit for Vietnam.


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