India, Vietnam sign protocol on double taxation avoidance agreement

India and Vietnam on Saturday inked a dozen of agreements, including protocol on double taxation avoidance agreement, to foster better ties between the two sides.

Prime Minister Narendra Modi and his Vietnamese counterpart Nguyen Xuan Phuc witnessed the signing ceremony.

"12 for togetherness! India & Vietnam sign a dozen agreements for further strengthening the Strategic Partnership," tweeted Ministry of External Affairs (MEA) official spokesperson Vikas Swarup.

The other agreements signed are cooperation in exploration and use of outer space for peaceful purposes, MoU between BIS and STAMEQ for mutual recognition of standards, contact with L&T for utilization of $100 million LoC for offshore Patrol boats, cooperation in the field of health, celebrating 2017 as 'Year of Friendship' .

Prime Minister Modi earlier held delegation-level talks with his Vietnamese counterpart.

"A comprehensive review of the Strategic Partnership. PM @narendramodi & PM Nguyen Phuc lead delegation level talks," tweeted Swarup.

Modi arrived in Vietnamese capital Hanoi last night in the first visit by an Indian Prime Minister in 15 years. Former prime minister Atal Bihari Vajpayee had visited the country in 2001.

India-Vietnam relations have been exceptionally friendly and cordial since their foundations were laid by India's first prime minister Pandit Jawaharlal Nehru and Vietnamese president Ho Chi Minh more than 50 years ago.

The traditionally close and cordial relations have their historical roots in the common struggle for liberation from foreign rule and the national struggle for independence.

India's thrust under the 'Act East' policy combined with Vietnam's growing engagement within the region and with India has paid rich dividends. Vietnam is an important regional partner in South East Asia.

India and Vietnam closely cooperate in various regional forums such as ASEAN, East Asia Summit, Mekong Ganga Cooperation, Asia Europe Meeting (ASEM) besides UN and WTO.