1 Updates

India, Vietnam ink eight agreements

Nov 20 2013, 11:20am CST | by IANS

New Delhi, Nov 20 (IANS) India and Vietnam Wednesday inked eight agreements, including one for oil and gas exploration in the seas off Vietnam that includes the South China Sea as visiting Vietnamese leader Nguyen Phu Trong and Prime Minister Manmohan Singh held talks here.

New Delhi, Nov 20 — India and Vietnam Wednesday inked eight agreements, including one for oil and gas exploration in the seas off Vietnam that includes the South China Sea as visiting Vietnamese...

Filed under: news

Full Story below YouTube Videos

 
 

 

21 weeks ago

India, Vietnam ink eight agreements

Nov 20 2013, 11:20am CST | by IANS

New Delhi, Nov 20 (IANS) India and Vietnam Wednesday inked eight agreements, including one for oil and gas exploration in the seas off Vietnam that includes the South China Sea as visiting Vietnamese leader Nguyen Phu Trong and Prime Minister Manmohan Singh held talks here.

New Delhi, Nov 20 — India and Vietnam Wednesday inked eight agreements, including one for oil and gas exploration in the seas off Vietnam that includes the South China Sea as visiting Vietnamese leader Nguyen Phu Trong and Prime Minister Manmohan Singh held talks here.

Nguyen Phu Trong is the general secretary of the Vietnamese Communist Party.

The eight agreements as well as a $100-million line of credit to Vietnam for defence purchases is a major step forward in India's "Look East Policy".

Manmohan Singh "reaffirmed that Vietnam was a pillar of India's 'Look East Policy', which was supported by the general secretary. They envisaged a more active role for India in the regional and international arena," a joint statement said.

Outlining their strong convergence of interests in working together, Manmohan Singh said: "Vietnam's emergence as one of the most vibrant economies in the Asia Pacific region is greatly welcomed by India, especially because we regard Vietnam as a trusted and privileged strategic partner and an important pillar of our Look East Policy."

Boosting connectivity, both sides inked an air services agreement that would see direct flights between the two countries and also promote an international aviation system based on competition.

Both sides also inked an agreement for setting up a high-tech crime lab in Hanoi.

India is to provide a financial grant for buying technical equipment and teaching aids for the Indira Gandhi Hightech Crime Lab (IGHCL) and also depute experts to Vietnam.

The MoU "consolidates the cooperation between the two countries in the field of crime investigation, counter terrorism and other transnational organised crime, and other relevant areas".

The 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.

Petro Vietnam is also to participate in open blocks in India and in third countries.

Vietnam's industry and trade ministry also inked an MoU with Tata Power Ltd. for development of the Long Phu 2 coal-fired power plant project in Soc Trang, Vietnam.

"The project is to be operated through a BOT Company owned by TATA Power and additional investors, with TATA Power as the lead member and will reach commercial operation in accordance with Agreements with the Vietnam side," the statement said.

Tata Power Co. Ltd won a $1.8-billion contract to develop the thermal power plant in the Mekong Delta province of Soc Tran after beating competition from South Korea and Russia to win the 1,200 MW contract.

A Vietnam-India English and IT Training Centre at the National Defence Academy of Vietnam in Hanoi will also be set up.

Both sides are on course to achieve the trade target of $7 billion by 2015.

A new Joint Sub-Commission on Trade has been tasked to work towards realizing the enormous potential of our economic relations, said the prime minister.

Manmohan Singh expressed appreciation for Vietnam's decision to award Tata Power the thermal power project and the offer of another offshore block to ONGC Videsh Limited for continued oil and gas exploration.

"We also look forward to boosting our bilateral economic ties through the India-ASEAN Free Trade Agreement and connectivity projects," he said.

In India's first gift of a supercomputer to another country, a PARAM High Performance Computing Facility was inaugurated at the Hanoi University of Science and Technology, the prime minister said.

The Archaeological Survey of India has also voiced readiness to take up conservation and restoration of the Cham monuments "which are a symbol of our historical, civilizational and cultural contacts".

IANS

Source: IANS

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Ukraine Crisis and Asylum Seekers
Ukraine Crisis and Asylum Seekers
Law Office of Alena Shautsova, a New York Immigration law firm located in Brooklyn , provides the full spectrum of immigration services including consultations regarding immigration benefits for citizens of troubled territories.
 
 
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Major Efforts to Mitigate Climate Change Well Under Way in Europe
Responding to the UN report on climate change mitigation, European innovators working across a range of climate innovation disciplines are stressing that major efforts are well under way in Europe.
 
 
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
EU Climate Innovation Chief Executive: Private, Public and Academic Sectors Need to Come Together
Mary Ritter, CEO of the EU's main climate innovation initiative Climate-KIC, calls for greater collaboration between the private, public and academic sectors to develop new solutions to stop further climate change.
 
 
InfraGard National Members Alliance Announces New Appointments to the Board of Directors
InfraGard National Members Alliance Announces New Appointments to the Board of Directors
Washington DC, DC, April 12, 2014 --(PR.com)-- The InfraGard National Members Alliance (INMA) announces the appointment of two members to its Board of Directors. The new appointees to three-year terms are Jerry Bowman...
 
 
 

Latest from the Network

The Other Important Number In The President's Obamacare Briefing: 24
President Obama was triumphant on Thursday. After facing months of questions over whether the White House would hit its goal of 7 million Obamacare sign-ups, the president had the latest enrollment data in hand—and it...
Read more on Business Balla
 
It's Good to Be King: LeBron James Tops 2014 Top-Selling NBA Jerseys
We haven’t crowned a winner for the 2014 NBA Championship, but we know who the king is when it comes to jersey sales. For the sixth time, Miami Heat power-forward LeBron James tops the NBA most-popular jersey list based...
Read more on Business Balla
 
The L.A. Clipper Miracle... Next: Democracy Will Break Out in Russia?
The Lakers are dead as Moses. The Clippers, who finished 11 games ahead of them last season and 30 in this one, are No. 3 seeds in the NBA’s Western draw, meaning they’ll be favored to stay alive for the next three or...
Read more on Business Balla
 
12 Reasons Why New Zealand's Economic Bubble Will End In Disaster
New Zealand’s economy has been hailed as one of world’s top safe-haven economies in recent years after it emerged from Global Financial Crisis relatively unscathed. Unfortunately, my research has found that many of...
Read more on Business Balla
 
Britney Spears' dad wants her to stay single
Britney Spears' father reportedly doesn't want her to get married again. The 'Perfume' hitmaker, who broke of her engagement to her former agent, Jason Trawick, in January 2013, is desperate to tie the knot with her...
Read more on Celebrity Balla
 
The Singular Secret For A Leader's Success: Self-Awareness
The National Advisory Council of a prestigious west coast business school was asked what single quality they thought would be most valuable for their graduates to acquire as they graduated.  The answer was self-...
Read more on Business Balla
 
Toby Keith's I Love This Bar & Grill Hit With Tax Warrant
In 2003, country singer Toby Keith went all the way to #1 with his mega-hit, “I Love This Bar.” The incredible popularity of the song inspired a chain of restaurants called Toby Keith’s I Love This Bar & Grill with...
Read more on Business Balla
 
What If Doctors Could Finally Prescribe Behavior Change?
This guest article is by Sean Duffy, CEO and Co-Founder, Omada Health Three out of four Americans will die of a disease that could be avoided—if only they could re-route their unhealthy habits. A new category of...
Read more on Business Balla
 
Steve Jobs and Ezra Cornell: Entrepreneurs
More and more MBA students are choosing to major in entrepreneurship, rather than the traditional disciplines of finance and marketing. How has entrepreneurship changed over the past century-and-a-half? Or has it...
Read more on Business Balla
 
Private Equity's New Macro Challenges
For decades, private equity (PE) firms made money by focusing on the microeconomics of businesses and letting the macro conditions take care of themselves. While investors focused on industry dynamics and company...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla