Bilateral Trade Agreement Between India And Vietnam

As a member of ASEAN, Vietnam is a prisoner of the bloc`s regional free trade agreements with Korea, the EU, China, Japan and India. The Vietnamese government has also signed a series of bilateral agreements on intellectual property, science and technology with industrialized countries as well as more than 30 NTBs. Over the past two decades, bilateral trade between Vietnam and India has steadily increased from $200 million in 2000 to $12.3 billion in the 2019-2020 fiscal year. In this context of common security interests, bilateral exchanges between the two States have intensified in recent years. Vietnam has also hosted Indian Navy ships in their region, which would improve military relations between India and Vietnam. [19] Vietnam also welcomed India`s support for a peaceful settlement of territorial disputes in the South China Sea. [20] Indian Foreign Minister Salman Khurshid called Vietnam one of the pillars of India`s “Look East” policy. [21] In 2018, India and Vietnam are expected to conduct their first bilateral navy exercise in Vietnamese waters. [22] III CULTURAL COOPERATIONThe Swami Vivekananda Indian Cultural Centre was established in Hanoi in September 2016 to promote a comprehensive understanding of India and promote closer ties between the peoples of the two countries through cultural exchanges. The two countries also have regular exchanges of delegations in favor of youth. Mission also maintains close ties with universities and think tanks in Vietnam.

The Vietnam Institute for Indian and South-West Asian Studies (VIISAS) of the Vietnam Academy of Social Sciences and the Center for Indian Studies at the National Academy of Policies in Ho Chi Minh are among the main centers in Vietnam that focus on Indian studies and have academic cooperation projects with some Indian institutions. India and Vietnam, which have historical roots in the common struggle for liberation from colonial rule and the national struggle for independence, traditionally share close and cordial bilateral relations. Mahatma Gandhi and Ho Chi Minh, considered the father of the nation in India and Vietnam respectively, led the people in their heroic struggle against colonialism in both countries. India chaired the International Monitoring and Control Commission (ICCS), established under the 1954 Geneva Convention, to facilitate the peace process in Vietnam. India initially maintained consular relations with north and south Vietnam at the time, before establishing full diplomatic relations with unified Vietnam on January 7, 1972. Relations between the two countries were raised to the level of “strategic partnership” during Vietnamese Prime Minister Nguyen Tan Dung`s visit to India in July 2007. In 2016, during Prime Minister Modi`s visit to Vietnam, bilateral relations with a “comprehensive strategic partnership” were severed. Vietnam is an attractive target for production and export, thanks to its selection of free trade agreements with several countries, which allow products with attractive low tariffs to be exported to these countries. . .

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