India, Vietnam sign eight agreements

Screenshot_1India and Vietnam signed eight agreements, including one for oil and gas exploration in the seas off Vietnam that includes the South China Sea as visiting Vietnamese Communist Party general secretary Nguyen Phu Trong and Prime Minister Manmohan Singh held talks in New Delhi.
The eight agreements as well as a $100-million line of credit to Vietnam for defence purchases consolidate India’s “Look East Policy”.

Key Agreements:

  • Air services agreement to introduce direct flights between the two countries and also promote an international aviation system based on competition.
  • Agreement for establishing a high-tech crime lab in Hanoi (Vietnam’s capital).
  • India will provide a financial grant for buying technical equipment and teaching aids for the Indira Gandhi Hightech Crime Lab (IGHCL) and also designate experts to Vietnam.
  • MoU between Vietnam Oil and Gas Group and ONGC Videsh Limited (OVL) provides for joint exploration, development and production of petroleum resources between the two countries for new investments by OVL in oil and gas blocks in Vietnam for oil and gas exploration and production.
  • MoU between Tata Power Ltd.and Vietnam’s industry and trade ministry for development of the Long Phu 2 coal-fired 1,200 MW power plant project in Soc Trang, Vietnam. Tata Power Ltd won the contract for building the thermal power plant in the Mekong delta region for a bid of $1.8-billion.
  • Agreement on setting up a Vietnam-India English and IT Training Centre at the National Defence Academy of Vietnam in Hanoi.

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Categories: International Current Affairs 2017

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