The “Enhanced Comprehensive Strategic Partnership” marks an elevation of the Comprehensive Strategic Partnership established between India and Vietnam in 2016.
- This decision was taken during the visit of the President of Vietnam to India.
Key Highlights / Outcomes of Visit
- Trade & Economic Cooperation: Bilateral trade target set at $25 billion by 2030 (currently around $16 billion).
- Both sides pushed for Early review and conclusion of ASEAN-India Trade in Goods Agreement (AITIGA).
- 13 strategic MoUs Signed: Across critical minerals cooperation, Digital Connectivity & FinTech, healthcare, digitisation of ancient Cham manuscripts, etc.
- Defence & Security Cooperation: Both countries will establish Strategic Diplomacy–Defence Dialogue (2+2).
- Maritime Integration: Vietnam joined Indo-Pacific Oceans Initiative (IPOI).
- IPOI is a voluntary, non-treaty initiative launched by India at East Asia Summit 2019 in Thailand to promote a free, open, and rules-based Indo-Pacific region.
Significance of Vietnam for India
- Act East Policy: Vietnam is a core partner of India in ASEAN and a critical partner in India's Act East policy, Vision MAHASAGAR and the Indo-Pacific vision.
- Geostrategic location: Vietnam's position in the Indo-Pacific is crucial for maintaining secure and stable trade routes.
- Countering China: Both support freedom of navigation and a rules-based order in the South China Sea in accordance with the 1982 UNCLOS.
- Supply Chain Diversification: Vietnam’s cooperation in imports and rare earths supports India’s manufacturing ecosystem, helps reduce global dependence on Chinese supply chains.
- Energy security: Indian companies have invested in oil and gas exploration projects in Vietnamese waters in South China Sea which are extremely rich in hydrocarbon reserves.
