Our Bureau | New Delhi, June 8 |
India has agreed to the early finalisation of a $500 million Defence Line of Credit to Vietnam
India and Vietnam on Wednesday signed a joint vision statement and a military logistic support pact that will significantly enhance “the scope and scale” of existing defence cooperation between the two nations, needed to secure strategic interests in the Indo-Pacific region China is trying to dominate.
Defence minister Rajnath Singh and his Vietnamese counterpart, General Phan Van Giang, held bilateral talks in Hanoi and also signed the “Joint Vision Statement on India-Vietnam Defence Partnership towards 2030” and a “Memorandum of Understanding on Mutual Logistics Support,” said the defence ministry here.
“I thank Vietnam’s Prime Minister, H.E. Pham Minh Chinh, for receiving me in Hanoi. We had warm and rich discussions on realising the full potential of the India-Vietnam Comprehensive Strategic Partnership. Deeply appreciate his positive approach and focus towards deepening bilateral relations, “Singh tweeted.
During the talks between the countries, India has also agreed to the early finalisation of a $500 million Defence Line of Credit to Vietnam, which will help in implementation of the projects that would add substantially to Vietnam’s defence capabilities and further Prime Minister Narendra Modi’s vision of ‘Make in India, Make for the World’, believes the ministry.
During the talks, Singh and General Giang had “wide-ranging discussions on effective and practical initiatives to expand bilateral defence engagements and regional and global issues were held between the two sides”.
The minister also announced the gifting of two simulators and a monetary grant towards the setting up of a language and IT lab at Air Force Officers Training School for capacity building of the Vietnamese Armed Forces. Singh kicked off his official visit, which coincides with the 50th anniversary of Vietnam-India diplomatic ties, by paying respects to the late President Ho Chi Minh at his Mausoleum in Hanoi.
He also visited Tran Quoc Pagoda, a revered Buddhist temple which reaffirmed the age-old civilisational and people-to-people linkages between the two countries spanning over 2,000 years.
Since 2016, the two countries have shared a comprehensive strategic partnership, and defence cooperation is a key pillar of this partnership. Vietnam is an important partner in India’s Act East policy and the Indo-Pacific vision.