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Viet Nam, India strive for US$20 billion trade value

VGP - Prime Minister Pham Minh Chinh requested Vietnamese and Indian relevant agencies to take measures to raise the bilateral trade to US$20 billion in the upcoming time from more than US$15 billion in 2022.

October 17, 2023 10:23 AM GMT+7
Viet Nam, India strive for US$20 billion trade value  - Ảnh 1.

Prime Minister Pham Minh Chinh (R) hosts a reception for Minister of External Affairs of India S. Jaishankar in Ha Noi, October 16, 2023 - Photo: VGP

Prime Minister Pham made the request on Monday during his reception for Minister of External Affairs of India S. Jaishankar who is on a visit to Viet Nam to co-chair the 18th meeting of the Viet Nam-India Joint Commission for Economic, Trade, Science and Technology.

Pham reiterated that Viet Nam attaches importance to its comprehensive strategic partnership with India, expressing his delight on the strong development in the bilateral relations.

He hailed the successful organization of the 18th meeting of the Joint Commission, urging the two countries to maintain bilateral cooperation mechanisms and boost people-to-people exchanges.  

The host leader spoke highly of cooperation in defense-security, suggesting India continue assisting Viet Nam in improving the capacity of defense-security forces and fostering collaboration in cyber security. 

Both nations should open the market for each side's commodities, reduce trade barriers and consider negotiating and signing cooperation documents to create favorable conditions for trade and investment activities and promote linkages between the two economies in terms of goods, services, interbank payment and digital payment, noted Pham. 

The Prime Minister called on India to encourage its big corporations to pour investment in Viet Nam in crucial areas such as seaports, logistics, oil and gas exploration and exploitation and renewable energy. 

He asked India to continue assistance for Viet Nam in fields of education-training, and culture as well as expand collaboration in new sectors, including digital transformation, climate change response, energy conversion and green growth. 

Jaishankar, for his part, affirmed that India considers Viet Nam an important partner in its Act East policy, adding that India expects to continuously enhance the comprehensive strategic partnership with Viet Nam. 

He pledged to step up close cooperation with the Vietnamese Ministry of Foreign Affairs to implement outcomes of the 18th meeting of the Joint Commission, contributing to boost the bilateral ties more intensively, particularly in all spheres of defense-security, economy, trade, investment, science and technology. 

Regarding international and regional issues of mutual concerns, Jaishankar said India always treasures cooperation with Viet Nam in particular, and ASEAN in general. 

India stands ready to forge stronger ties with the region, raising its active voice to maintain peace, and stability, and bolster cooperation and development in the region, he underlined. 

He re-affirmed India's stance of advocating the centrality of ASEAN and the basic principles of ASEAN in addressing global issues, including the East Sea issue./.