Strategic and Comprehensive Partnership between India and Vietnam at all-time high says Vietnam Ambassador to India
Bilateral trade between India and Vietnam touches US$7.6 billion
Tata’s Power Project a symbol of India’s increased investment in Vietnam
“Vietnam shares the highest level of strategic and comprehensive partnership with India and the recent visit of Prime Minister Narendra Modi has successfully raised the level of understanding between the two countries” said Mr. Ton Sinh Thanh, Vietnam ambassador to India. The ambassador was on a visit to campus of Chandigarh University to attend an interactive session on “Indo-Vietnam Strategic & Diplomatic Relations”. While addressing the students, Ton Sinh said, “Vietnam shares cultural ties which are more than 1000 years old but the diplomatic ties which started in 1972 is on a verge of adding new dimensions, areas in partnerships and we would be celebrating 45th anniversary of our diplomatic relations in 2017”. Vietnam understands the strategic & important role played by India at various International forums and our country endorses India’s permanent seat in United Nation Security Council, added Mr. Ton Sinh Thanh.
“We acknowledge that India has emerged as economic power and the fastest growing economy would actually benefit countries like Vietnam where India is doing lot of investment in developing infrastructure projects like Tata Power Project which is an upcoming coal-fired Long Phu 2 project in the southern Soc Trang province of Vietnam” said the Vietnam ambassador. There are other Indian companies such as L&T, Escorts Group, Adani Group which have shown their business interest to invest in infrastructure development projects in our country, he added. While talking on the trade links with India, Mr. Ton Sinh Thanh said, “The bilateral trade between the two countries which currently stands at US$7.6 billion has grown 5 times since 2006 and during the visit of Prime Minister Modi, both the countries agreed to take steps in this regard and set an ambitious target of making it US$15 billion by 2020”. India is currently exporting US$300-400 million pharmaceutical products annually to Vietnam and we are focusing on other areas such as Heavy Machinery, Cotton, Textile Material and Tourism where we can increase our trade, he said.
“India was following a Look East policy towards South Asian Countries but with the change of Government in India, Prime Minister Modi has taken new initiatives to strengthen ties and the policy has now become Act East Policy for the countries like Vietnam” said Mr. Ton Sinh. Since the 1st project undertaken by ONGC in 1988 in the field of Oil & Gas Exploration, the Indian Investment in Vietnam has touched US$ 580 million and with Government of India taking keen interest in South Asian countries, we are sure that Vietnam would emerge as 1st position in terms of investment done by Government and Corporates from India, he added.
India and Vietnam have identified five pillars of mutual corporation and partnership during the recent meeting of PM Modi with Vietnam President & Prime Minister which includes Political & Diplomatic, Defense & Security, Economic, Science & Technology and Cultural & Education. “We want to see more and more students from Vietnam to come to India to study as the Indian Universities offers good infrastructure and academic policies” said Vietnam ambassador. Mr. Ton Sinh expressed his happiness to learn that the 1st batch of students from Vietnam would be visiting Chandigarh University in January 2017 under the student exchange program and would be spending 6 months here in India.
The Vietnam ambassador was traditionally welcomed by the students of Chandigarh University who was also accompanied by Mrs. Bach Thanh Binh, Counselor, Head of Political & Cultural Section, Embassy of Vietnam.