Vietnam-India Enhanced Strategic Partnership

Summary of India-Vietnam Bilateral Relations and Recent Developments

1. High-Level Visit:

   • Vietnam's General Secretary and President, To Lam, visited India with a high-level delegation and business leaders, emphasizing the priority of India-Vietnam relations.
   • The visit started at Bodh Gaya, symbolizing shared civilizational and spiritual traditions.

2. Cultural Heritage Restoration:

   • India and Vietnam are working on the restoration of ancient Champa civilization sites, including My Son and Nha Trang temples.
   • Plans to digitize manuscripts of the Champa civilization to preserve heritage for future generations.

3. Enhanced Comprehensive Strategic Partnership:

   • India and Vietnam elevated their relationship to an Enhanced Comprehensive Strategic Partnership, focusing on culture, connectivity, capacity building, security, sustainability, and supply chain resilience.

4. Bilateral Trade:

   • Bilateral trade has doubled in the last decade, reaching $16 billion, with a target of $25 billion by 2030.
   • An MOU between drug authorities to enhance access to Indian medicines in Vietnam.
   • Increased exports of Indian agricultural, fisheries, and animal products to Vietnam, including grapes and pomegranates.

5. Trade Agreements:

   • Agreement to update the India-ASEAN Trade Agreement (AITIGA) by the end of the year to enhance trade and investment.
   • Initiatives in critical minerals, rare earths, and energy cooperation to bolster economic security and supply chain resilience.

6. Financial and Digital Connectivity:

   • Increased air connectivity between India and Vietnam.
   • Decision to strengthen cooperation between central banks and link India's UPI with Vietnam's fast payment systems.

7. Regional Cooperation:

   • Vietnam is a key pillar of India’s Act East Policy and Vision for the Indo-Pacific region.
   • Commitment to contributing to rule-of-law, peace, stability, and prosperity in the region through strengthened defense and security cooperation.

8. Counter-Terrorism Cooperation:

   • Vietnam's support in condemning terrorism, particularly in the context of recent attacks in India.

9. Economic Growth:

   • Both countries are emerging as rapidly growing economies, leveraging talent, good governance, and economic reforms.

10. Philosophical Outlook:

• Emphasis on mutual support in achieving development goals, inspired by the teachings of Buddha about shared enlightenment.

These developments reflect a significant commitment to enhancing the bilateral relationship between India and Vietnam, focusing on economic growth, cultural ties, and regional stability.