Top News

Delhi. India and Vietnam have made several important announcements along with signing MoUs in 12 important sectors including rare minerals, defence, renewable energy and information technology to further deepen bilateral relations. These agreements were signed after bilateral talks between Prime Minister Narendra Modi and visiting Vietnamese President To Lam here on Wednesday.

The two countries decided to upgrade relations to an “Enhanced Comprehensive Strategic Partnership” that reflects growing cooperation and strategic coordination in the Indo-Pacific region. Under these agreements, it has been agreed to enhance cooperation in many areas, in particular, an important MoU was signed to promote cooperation in the field of rare earth elements which is important for sectors like electronics, renewable energy and defence.

In the digital sector, it was also agreed to strengthen cooperation in information technology and emerging technologies. Along with this, agreements have been signed between the central banks and payment institutions of both the countries to increase financial cooperation, which will promote cross-border digital payments and QR based transactions. It has also been decided to strengthen cooperation in the health sector.

In this, agreements to regulation of medicines, medical devices and biological products have been made. Several initiatives have been launched in the education and cultural sector, including setting up Centers for Indian Studies in Vietnamese universities and digitization of ancient Cham manuscripts, which will further strengthen the historical and cultural ties between the two countries.

Cooperation has been established between Mumbai and Ho Chi Minh City in the field of urban development, which will lead to exchange of experiences in urban management and economic development. Additionally, the two countries have also stepped up cooperation to enhance transparency and accountability in public sector audit. Cultural exchange programs and tourism agreements have been made for the period from 2026 to 2030 to encourage tourism and cultural exchange, which will further strengthen people-to-people ties.

Both the countries have also set a target of increasing bilateral trade to $25 billion by the year 2030. Also, Vietnam has announced to join the ‘Indo-Pacific Oceans Initiative’, which will promote regional cooperation and maritime security. Grapes will be exported from India and durian will be imported from Vietnam while increasing agricultural trade.

Apart from this, it has also been announced to set up a Site Interpretation Center at the UNESCO World Heritage Site at My Son, which will promote tourism and cultural conservation. With these agreements and declarations, India and Vietnam have committed to deepen their cooperation in economic, technological and cultural fields and strengthen regional stability.

Also read:

India-Vietnam Relations: Grand welcome to the President of Vietnam in Delhi, there will be important discussion on defense and trade with PM Modi, emphasis on increasing trade.