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India-Vietnam Inked 7 Pacts
Sep 17, 2014

India and Vietnam signed seven pacts, including one to enhance cooperation in the strategic oil sector. The agreements were signed during the second day of the four-day state visit of President Pranab Mukherjee who held talks with his Vietnamese counterpart Truong Tan Sang in Hanoi. The following Agreements were signed in the presence of the Presidents of both the countries: 

1.  Dollar Credit Line Agreement between the Government of the Socialist Republic of Vietnam and EXIM Bank of India. 

2. Agreement between the Government of the Socialist Republic of Vietnam and the Government of the Republic of India on co-operation and mutual assistance in customs matters.

3. MOU between the Ministry of Agriculture and Rural development of Vietnam and the Ministry of Agriculture of India on animal health.

4. MOU between the Ministry of Agriculture and Rural development of Vietnam and the Ministry of Agriculture of India on cooperation in the field of setting up of Pangasius breeding and farming in India.

5. Letter of Intent between Vietnam Oil and Gas Group and ONGC Videsh Limited.

6. MOU on operating and jointly promoting direct air services between Vietnam Airlines (Vietnam) and Jet Airways (India). 

7. MOU on cooperation in Youth Affairs between the Central Committee of the Ho Chi Minh Communist Youth Union of Vietnam and the Ministry of Skill development, Entrerpeneuship, Youth Affairs and Sports of India.

Both the countries decided to strengthen and deepen bilateral cooperation on the basis of the strategic partnership with focus on political, defence and security cooperation, economic cooperation, science and technology, culture and people-to-people links, technical cooperation and multilateral and regional cooperation.

The two countries, who established strategic ties in 2007, asserted that the freedom of navigation in the disputed waters of the South China Sea should not be impeded and called all the parties concerned to exercise restraint in this context.They reiterated their desire and determination to work together to maintain peace, stability, growth and prosperity in Asia. 

They agreed that freedom of navigation in the East Sea/South China Sea should not be impeded and called the parties concerned to exercise restraint, avoid threat or use of force and resolve disputes through peaceful means in accordance with universally recognised principles of international law, including the UNCLOS-1982. The two sides urged for collective commitment of the concerned parties to abide by and implement the 2002 Declaration on the Conduct of Parties in the South China Sea and to work towards the adoption of a Code of Conduct in the South China Sea on the basis of consensus.

The two sides also agreed to undertake a focussed cooperation in defence related procurement. They agreed that defence and security cooperation was an important pillar of the strategic partnership between the two countries. They expressed satisfaction with the ongoing cooperation between the two sides in this field and noted that the signing of the MoU for the Line of Credit of $100 million for defence procurement extended by India to Vietnam would open new avenues for cooperation,

The two leaders also highlighted scope for expansion in ICT, science and technology, space and other areas.


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