Don’t miss the latest developments in business and finance.

India, Vietnam sign Joint Vision Statement on defence partnership towards 2030

Image
Capital Market
Last Updated : Jun 08 2022 | 3:05 PM IST
India and Vietnam have signed the 'Joint Vision Statement on India-Vietnam Defence Partnership towards 2030', which will significantly enhance the scope and scale of existing defence cooperation.

Defence Minister Rajnath Singh held bilateral talks with Vietnam's Minister of National Defence General Phan Van Giang in Hanoi on 8 June 2022.

Wide-ranging discussions on effective and practical initiatives to further expand bilateral defence engagements and regional & global issues were held between the two sides. A Memorandum of Understanding on Mutual Logistics Support was also inked.

Both Ministers also agreed for early finalisation of $500 million Defence Line of Credit extended to Vietnam. Implementation of the projects shall add substantially to Vietnam's Defence capabilities and further PM Modi's vision of 'Make in India, Make for the World'.

In these times of increasing cooperative engagements between the defence forces of the two countries, this is a major step towards simplifying procedures for mutually beneficial logistic support and is the first such major agreement which Vietnam has signed with any country, Ministry of Defence said in a statement.

Singh also announced gifting two simulators and monetary grant towards setting up of Language and IT Lab at Air Force Officers Training School for capacity building of Vietnamese Armed Forces.

India and Vietnam continue to have most trustworthy relations in contemporary times with broader convergence of interests and common concerns. Bilateral defence engagements have expanded over a period of time to include wide-ranging contacts between the two countries, including Defence Policy Dialogues, military to military exchanges, high level visits, capacity building and training programs, cooperation in UN Peace Keeping, ship visits and bilateral exercises.

Powered by Capital Market - Live News

Disclaimer: No Business Standard Journalist was involved in creation of this content

More From This Section

First Published: Jun 08 2022 | 2:58 PM IST

Next Story