India - Vietnam Virtual Summit 2020: All you need to know

India and Vietnam had a virtual summit recently on December 21, 2020, where seven major MOUs were signed. Know more about the Summit and its significance and the details below.
Created On: Dec 23, 2020 18:00 IST
Modified On: Dec 23, 2020 18:25 IST
India Vietnam Virtual Summit
India Vietnam Virtual Summit

Why in News?

India and Vietnam had a virtual summit recently where several MOUs were signed. Know more about the Summit and its details below. 

About India-Vietnam Virtual Summit:

  1. PM Modi on December 21, 2020, held a virtual summit with the Prime Minister of Vietnam, Nguyen Xuan Phuc. They discussed the future development of the comprehensive strategic partnership between the two nations.
  2. India and Vietnam had signed seven agreements of cooperation in areas like defence, petrochemicals, nuclear energy and also informed about the joint vision for peace and prosperity. The move was basically explicit on China’s continuous aggression in the area. 

Current Status of Partnership between India and Vietnam

  1. India currently is making a 100-million dollar defence line of credit, constructing 12 high-speed patrol boats for Vietnam. 
  2. The boats are being constructed for Vietnam Border Guard. These would be used to enhance coastal security and prevent illegal activities.
  3. Larsen & Toubro’s shipyard in Chennai are building 5 vessels and others would be constructed at Hong Ha shipyard in Hai Phong under India’s supervision.
  4. India and Vietnam both have stakes in the Indo-Pacific region and have maritime interests
  5. The summit has enabled them to look at potential cooperation on India’s Indo-Pacific Oceans Initiative and ASEAN’s Indo-Pacific outlook.

Know more about PM Modi being given Legion of Merit honour by the USA

MOUs in the Summit:

Defence:

  1. India and Vietnam need a good defence and security partnership for having stability in the Indo-Pacific region.
  2. The two sides have made an understanding to step up their military-to-military exchanges, along with training and capacity building programmes. Even the coast guards would be included to increase the defence industry collaboration.
  3. Both sides would take up the battle against crimes in cyber and maritime domains, terrorism, natural disasters, health security, water security, transnational crimes together. 
  4. India and Vietnam’s armies already conduct the VINBAX military exercise

India Vietnam Virtual Summit

Economic Cooperation:

  1. India and Vietnam would jointly endeavour their missions to become a 5 trillion dollar economy and a high-income economy by 2024 and 2045 respectively. 
  2. The countries would explore all their options including blue economy, MSMEs and farming communities.
  3. India and Vietnam have recently completed various partnerships like Development Projects with India’s aid of 1.5 million UD dollars for the benefit of the local community in Vietnam’s Ninh Thuan.

Climate Change :

  1. Efforts would be encouraged from both sides for renewable energy resources, energy conservation and other climate-resilient technologies sharing.
  2. Vietnam would also be participating in the International Solar Alliance to scale up the deployment of solar energy.
  3. India also wants Vietnam to join the Coalition for Disaster Resilient Infrastructure. 
  4. The countries also agreed to expand the Mekong - Ganga Quick Impact Projects.

Jagranjosh

Terrorism and the South China Sea :

  1. Maintainance of peace, stability, security and freedom of navigation in the South China Sea was agreed upon by both countries. 
  2. The countries have pledged to pursue peaceful resolution of disputes in accordance with international law, mainly that of 1982 United Nations Convention on the Law of the Sea.
  3. Declaration on the Conduct of Parties in the South China Sea, DOC would also be implemented.
  4. India and Vietnam both would adopt the Comprehensive Convention on International Terrorism (CCIT) earlier than the set date. Also Read| PM Modi to hold virtual summit with Vietnam

ASEAN and other summits:

  1. Both the countries participate in the United Nations, ASEAN-led mechanisms and Mekong sub-regional cooperation.
  2. They would foster cooperation between ASEAN and India and meet all the objectives and principles of ASEAN Outlook on Indo-Pacific, AOIP and India’s Indo-Pacific Oceans Initiative, IPOI
  3. India and Vietnam both would promote reformed multilateralism to make the UN Security Council more representative so that current challenges can be easily dealt with. 

COVID 19 Pandemic:

  1. Both the countries have planned to share their COVID 190 experience and provide support for online training of health professionals and forge institutional cooperation in the development of the vaccine. 
  2. Ayurveda and Yoga would be used as a mediating tool for medicine and cultural exchange between the two countries. 

Others:

  1. Both India and Vietnam governments would publish an Encyclopedia of India - Vietnam Cultural and Civilizational Relations. It would mark the 50th anniversary of India - Vietnam diplomatic relations in 2022.
  2. Projects like conservation of F-block of Temple at My Son; Dong Duong Buddhist Monastery in Quang Nam and Nhan Cham Tower in Phu Yen has also been signed to be materialised.

Way Forward:

India and Vietnam share a similar culture and matched religious interests too. Vietnam is mainly a Buddhist country and India can make some advances in its Act East policy by implementing the above-mentioned ties with Vietnam. A cultural and educational interest can be a landmark in India’s soft power. With the increasing effect of China and Vietnam’s vulnerability to it in the South China sea, India forging good relationships with Vietnam can help it build a better market for itself. 

FAQ

Is Vietnam the cheapest country?

Vietnam may be called cheaper than most of the countries in South East Asia. However it may not be the cheapest country in the world,

Is Vietnam VISA free for Indians?

Yes, there is an option for VISA on arrival for Indian passport holders travelling to Vietnam

Does Vietnam support India?

Vietnam supports India, in fact, these two countries are strategic partners in the Indo- Pacific region

Was India involved in the Vietnam War?

India supported Vietnam's independence. It was against the United State's interference in the war too.
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