India and Vietnam on Monday inked seven pacts on Monday including one to enhance cooperation in the oil sector.
A Letter of Intent was signed between ONGC Videsh Limited, India and Vietnam Oil and Gas Group, in which PetroVietnam offered new blocks to OVL for oil and gas exploration and production. OVL is keen to expand its presence in Vietnam and is evaluating the blocks on offer.
This Letter of Intent will further consolidate cooperation between India and Vietnam in the energy sector and pave way for future collaboration between the two countries in this area.
India and Vietnam also signed an MoU on extension of USD 100 million Line of Credit to Hanoi for defence procurement, which provides concessional line of credit for procurement of defence equipment from India. Details of equipment to be procured by Vietnam are under finalization. The LoC opens new opportunities in our defence cooperation.
Both the countries also signed an agreement on cooperation and mutual assistance in customs matters. The agreement aims to strengthen, promote and develop cooperation and mutual assistance on matters pertaining to customs between India and Vietnam. The two countries shall assist each other for the prevention, investigation and combating customs offences for the proper application of customs laws and for facilitating legitimate trade. The two countries shall also cooperate and exchange information in their enforcement against the illicit trafficking of narcotic drugs, psychotropic substances, precursor chemicals and other prohibited goods.
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An MoU was also signed between the Ministry of Agriculture of India and the Ministry of Agriculture and Rural Development of Vietnam in the field of animal health, which establishes cooperation between India and Vietnam in the field of animal health, including protecting territory of each other from introduction of animal diseases and infection caused by the trade of animals, products of animal origin and materials of animal reproduction. India and Vietnam shall also share special information on meat processing, meat products and slaughter houses/abattoirs. They shall cooperate in the training and upgrading of human resources in the field of animal health through exchange of delegations, workshops, expert visits, training and share information on veterinary research.
The fifth MoU was signed between National Fisheries Development Board, Hyderabad, Department of Animal Husbandry, Dairying and Fisheries, Ministry of Agriculture of India and the Directorate of Fisheries, Ministry of Agriculture and Rural Development of Vietnam on cooperation in the field of setting up of pangasius breeding and farming in India.
This MoU between the two countries is aimed at cooperation in transfer of technology and setting up of pangasius (catfish) breeding and farming in India and allied activities between the two countries through joint activities, programmes, exchange of scientific material, information and personnel. The joint activities shall be environmentally sound and sustainable. Annual work plans will be drawn and a joint technical committee shall be formed to provide guidance, review progress and facilitate cooperation.
India and Vietnam also signed an MoU between the Ministry of Skill Development, Entrepreneurship, Youth Affairs and Sports of India and the Central Committee of the Ho Chi Minh Communist Youth Union of Vietnam on cooperation in youth affairs.
The MoU provides the framework for programmes of cooperation between India and Vietnam in the field of youth development and excellence by encouraging and promoting an exchange of programmes, experience, skills, techniques, information and knowledge. The youth programmes shall include participation of young politicians, young entrepreneurs, young doctors, young journalists etc. It shall also involve participation of young people from both countries in youth festivals, seminars and conferences on youth related issues.
An MoU between Jet Airways (India) and Vietnam Airlines Company Limited has also been signed, which will enhance their presence in each other's markets. The scope of the MoU involves code sharing on services of each other. From November 5 this year, Jet Airways intends to extend its Mumbai-Bangkok flight to Ho Chi Minh City, Vietnam. This service will also enable passengers travelling from Delhi to Bangkok, to connect on the extension flight beyond Bangkok to Ho Chi Minh City.
President Mukherjee arrived in Hanoi on Sunday on a four-day state visit during which he will look to boost the bilateral and strategic partnership between India and Vietnam.
