India signed 12 agreements with Vietnam on Saturday after PM Narendra Modi met his Vietnamese counterpart Nguyen Xuan Phuc. Both leaders held delegation level talks and discussed on matters relating to economic cooperation.
The agreements were signed by officials of the two sides in presence of Prime Minister Narendra Modi and his Vietnamese counterpart Nguyen Xuan Phuc here.
“12 for togetherness! India & Vietnam sign a dozen agreements for further strengthening the Strategic Partnership,” External Affairs Ministry Spokesperson Vikas Swarup tweeted.
During his address to the gathering, PM Narendra Modi announced a new line of credit of USD 500 million for Vietnam to facilitate deeper defence cooperation.
Addressing the delegation present at signing ceremony, Prime Minister said that India will cooperate in the development of Vietnam.
“Vietnam PM and I have agreed to deepen our defence and security engagements to advance our common interests,” said Prime Minister.
Prime Minister announced a new line of credit of five hundred million dollars for defence cooperation between the two countries and said that India is willing to deepen its ties with Vietnam.
“Happy to announce new defence Line of Credit of US$ 500 mn for facilitating deeper defence cooperation” said the PM.
PM said that India is keen on deepening ties on key areas like security and trade, oil exploration, solar energy and other sectors with the communist country.
“We have agreed to tap into growing eco opportunities in the region and Recognized need to cooperate in responding to emerging regional challenges,” said PM Modi.
Earlier in Prime Minister Narendra Modi was accorded a ceremonial welcome in front of the majestic Presidential palace here this morning.
Modi, the first Indian prime minister to visit the communist nation in 15 years, was welcomed by Vietnamese president Tran Dai Quant.
Modi flew in here on Friday night for a day long packed visit to Vietnam. He leaves On Saturday evening for the G20 talks in China.
After national anthems of both India and Vietnam were played by the armed forces band, dressed in sharp white with gold tassels and black gum boots, the prime minister inspected a guard of honour by the three armed forces of the host country.
Immediately afterwards Modi, in white churidar kurta with grey jacket, was taken to the humble traditional stilt house near the palace where Vietnam’s beloved leader Ho Chi Minh lived intermittently between 1958-1969. He was shown the place by the Vietnamese president.