Recently the fifth anniversary of the India-Vietnam Comprehensive Strategic Partnership was celebrated.
In the backdrop of anniversary celebrations, the two countries signed three MoUs in Parliamentary Cooperation, Information Technology and Marine Science.
- India and Vietnam share traditionally close and cordial bilateral relations, with a history of shared struggle for freedom from colonial rule.
- During the year 2007, the relationship between the two countries was elevated to the level of a strategic partnership. In 2016, it was expanded to a Comprehensive Strategic Partnership.
Importance of Vietnam to India
- It is the focal point of India’s Act East policy.
- Vietnam is a major participant in both the ASEAN and Indo-Pacific commitments to promote stability in the region.
- Vietnam has supported India’s claim for permanent membership in the UNSC.
- According to Indian data, during the financial year April 2020-March 2021, the bilateral trade between India and Vietnam had reached US$ 11.12 billion. In this, India’s exports to Vietnam were worth US $ 4.99 billion.
Initiatives to promote relationships:
- Swami Vivekananda Indian Cultural Center (SVCC) has been established in Hanoi. It aims to promote closer ties between the peoples of the two countries through cultural exchange.
- Under the Mekong Ganga Cooperation (MGC) framework, India is working on Quick Impact Projects (QIPs) worth US$ 50,000 per plan in various provinces of Vietnam for the development of community infrastructure.
- India has given a line of credit of $600 million to Vietnam to buy defense equipment from India.
Source – The Hindu