Daijiworld Media Network - New Delhi
New Delhi, Sep 15: India and Vietnam on Monday agreed to deepen defence cooperation through joint production of military hardware and expand bilateral trade by strengthening supply chains and widening market access.
External Affairs Minister S Jaishankar and his Vietnamese counterpart Le Hoai Trung discussed ways to further strengthen bilateral relations across several key areas during the 19th India-Vietnam Joint Commission Meeting (JCM) on trade, economic, scientific and technological cooperation.
The two sides also agreed to expand cooperation in air connectivity, nuclear energy and space.
"In a productive and outcome-oriented discussion, the two ministers reviewed the full spectrum of bilateral relations under the India-Vietnam Enhanced Comprehensive Strategic Partnership," the Ministry of External Affairs (MEA) said.
The MEA said the ministers identified the way forward for deepening ongoing defence and security cooperation, including through co-production of Indian defence equipment. They also discussed expanding trade and investments, developing mutually beneficial supply chains and increasing market access for Indian marine and agricultural products and pharmaceuticals.
Other areas identified for deeper cooperation included port and air connectivity, nuclear energy, space, heritage conservation, standards for seafarers, capacity building and people-to-people ties.
The two sides also exchanged views on regional and global developments of mutual interest and reaffirmed their commitment to closer cooperation and coordination in regional and multilateral forums, the MEA said.
In his opening address at the meeting, Jaishankar described Vietnam as a key partner in India's Act East Policy, its MAHASAGAR vision and its Indo-Pacific outlook.
"Vietnam is equally an important partner in the framework of our Comprehensive Strategic Partnership with the ASEAN," he said.
Prime Minister Narendra Modi announced the MAHASAGAR vision, or 'Mutual and Holistic Advancement for Security and Growth Across Regions', for India's engagement with the Global South during his visit to Mauritius in March last year.
In May, India and Vietnam elevated their ties to an Enhanced Comprehensive Strategic Partnership and set a target of achieving USD 25 billion in annual bilateral trade by 2030.
Last year, the two countries signed an agreement to establish a framework for submarine search, rescue and support mechanisms. They also signed a Letter of Intent (LoI) aimed at strengthening bilateral defence industry cooperation.
During Monday's talks, the two sides are also understood to have discussed the situation in West Asia and developments in the South China Sea, where China's increasing military activities have raised concerns.
China has made extensive claims of sovereignty over the South China Sea, a region believed to hold significant hydrocarbon resources. Vietnam, the Philippines and Brunei are among the countries that have overlapping claims in the region.
India and several other countries have consistently called for peaceful resolution of disputes and adherence to international law, particularly the United Nations Convention on the Law of the Sea (UNCLOS).