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prelims Test Series 2019
बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
To Strengthen Bilateral Relations India-Vietnam Sign 12 Pacts
Sep 06, 2016

India and Vietnam added a strong defence component to their relationship even as PM Narendra Modi and his counterpart Nguyen Xuan Phuc upgraded bilateral ties to a level Vietnam enjoys only with Russia and China.

Describing Vietnam as a strong pillar of India's 'Act East' policy, Indian PM said our bilateral ties are based on strong mutual trust, understanding and convergence of views on various regional and global issues".

Key Agreements

  • India has agreed to give a $500 million defence line of credit to help Vietnam source more military hardware from India.
  • Both countries signed a contract for fast offshore patrol vessels by L&T with Vietnam Border Guards under a $100 million letter of credit that had been given earlier.
  • The defence cooperation will jump to a whole new level when India finally makes a decision to transfer the Brahmos missile to Vietnam
  • The Indian PM said the credit was for ‘facilitating mutual defence cooperation’ and the ties between the two countries would ‘contribute to stability, security and prosperity in this region.
  • A space agreement takes forward a decision that allows India to set up a satellite tracking and imaging centre in southern Vietnam that will give both countries an eye over the entire region including China and the South China Sea.
  • While such centres have environmental, agricultural and weather functions, they serve a dual security purpose.
  • Indian PM also announced a grant of $ 5 million for the construction of an Army Software Park at the Telecommunications University in Nha Trang.
  • The two sides also signed an agreement on double taxation avoidance, more and more important as Indian businesses set up shop in Veitnam.
  • In addition, MoU between Vietnamese Academy of Social Science and Indian Council of World Affairs, MoU between BIS and STAMEQ for mutual recognition of standards, agreement on setting up of sustainable IT Infra for advanced IT training and protocol between Vietnam and India on celebrating 2017 as 'The Year Of Friendship' were also signed.

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