Deputy Prime Minister cum Foreign Minister Pham Binh Minh told this to his Indian counterpart, Sushma Swaraj, at their talks in Hanoi on August 25.
FM Sushma Swaraj applauded Vietnam's achievements in socio-economic development and international integration while affirming the new Indian government continues regardingVietnam as one of the pillars of its Look East policy.
The two FMS expressed their satisfaction with the positive developments in bilateral relations between the two countries in recent years, especially in the strategic areas-politics, economics, defense and security, science and technology, education and culture.
They also consented to increase cooperation on specific areas such as trade, agriculture, banking, defense and security, science and technology, culture, education and tourism, setting to bring trade turnover to US$7 billion by 2015 and US$15 billion by 2020 as agreed by senior leaders. The two sides also concurred to further promote high-level exchange visits at all levels. The Vietnamese side welcomes the upcoming State visit to Vietnam by Indian President Pranab Mukherjee.
Both sides agreed to promote the efficiency of bilateral cooperation mechanisms such as the Intergovernmental Committee on economic, scientific, technological, cultural and educational cooperation, security, defence dialogues, political consultations between two foreign ministries and joint working groups on education and information technology.
The two sides pledged to create favorable conditions for enterprises to strengthen economic cooperation and investment in the areas of their strength.
Vietnam encourages Indian companies to intensify their investments inenergy, oil and gas exploration and exploitation, processing industry, construction and pharmaceutical. The two sides welcomed Indian carrier Jet Airways’ plan to open a direct air route between the two countries in November this year which will facilitate their economics, trade, culture and tourism.
The two diplomats also exchanged views on regional and international issues of common and reiterated continued collaboration and reciprocal support at regional and international forums such as ASEAN – India cooperation, East Asia Summit (EAS), ASEAN Regional Forum (ARF), the Regional Comprehensive Economic Partnership (RCEP) agreement and cooperation within the UN framework.
They also compared notes on the recent complex developments in the East Sea and stressed the importance of ensuring peace, stability, security, maritime safety and resolving disputes in the East Sea by peaceful means on the basis of respect for international law, including the 1982 UN Convention on the Law of the Sea (UNCLOS), fully implementing the Declaration of the Conduct of Parties in the East Sea (DOC) and working towards the building of a Code of Conduct in the East Sea (COC) in the future.
Vietnam appreciated India for continuing its long-term cooperation with Vietnam in oil and gas exploration and exploitation in the East Sea.