Asserting that Vietnam has an important place in India’s framework of Act East policy and India’s relations with ASEAN, Prime Minister Narendra Modi on Saturday said both nations will explore opportunities in transfer of technology.
“We have decided that we will enhance cooperation in defence production and explore opportunities in transfer of technology. We will jointly work for an open, independent and prosperous Indo-Pacific area where sovereignty and international law is respected,” said the Prime Minister at a joint statement after delegation-level consultations with Vietnamese President Tran Dai Quang.
Both the sides inked three Memorandums of Understanding.
‘We agreed to strengthen our relations in different sectors including renewable energy, agriculture, textiles & oil & gas. In oil & gas sector, not only we will strengthen our long-standing bilateral relations but also work along with other nations on trilateral possibilities,’ Mr Modi added.
The visiting dignitary also called for direct flights between capitals of India and Vietnam.
India-Vietnam trade stood at 6.24 billion dollars in fiscal 2016-17 and the two sides have agreed to raise this to 15 billion dollars by 2020.