Italian Media: Hanoi and New Delhi Reach Agreement

Vietnam and India plan to raise bilateral trade to $25 billion by 2030 and strengthen cooperation in defense, rare earths, energy, and supply chain security. The visit to New Delhi underscores the diplomatic activity of this Vietnamese leader, who is committed to expanding economic and strategic partnerships beyond China under the "bamboo diplomacy" framework.

New Delhi (Asia News) – India and Vietnam have strengthened their bilateral ties, focusing on defense, rare earths, energy, and addressing supply chain disruptions. For the Vietnamese leader, who has concurrently served as both State President and General Secretary of the Communist Party of Vietnam over recent months, this visit marks another significant diplomatic engagement ahead of 2026, reaffirming the importance of Southeast Asia’s outreach—particularly in trade.

Yesterday in New Delhi, Prime Minister Pham Minh Chinh announced his intention to expand bilateral cooperation, aiming to increase trade with India to $25 billion by 2030. “Today, we elevate our relationship to a closer global strategic partnership,” said Indian Prime Minister Narendra Modi at the conclusion of their meeting. He added that both nations plan to deepen cooperation across all domains, including security, sustainable development, and shared cultural and economic initiatives. The Memoranda of Understanding signed cover financial innovation, digital payments, pharmaceutical regulation, tourism, and education.

Over the past decade, Indo-Vietnamese trade has doubled to $16 billion. To support projected trade growth over the next four years, both sides expressed support for reviewing the India-ASEAN Trade Agreement, expected to be completed by year-end.

One of the most crucial aspects of this agreement involves rare earth resources, which are vital for energy transition, semiconductor and battery production, and technology firms. Modi reiterated that thanks to this collaboration, “we will ensure economic security and resilience in our respective supply chains.”

India views Vietnam as a key partner in its “Act East Policy,” aimed at strengthening political and economic ties with Southeast Asia and consolidating its influence in the Indo-Pacific region. Modi described Hanoi as the “cornerstone” of this vision and emphasized that both countries share a “common stance” on regional security issues.

The joint statement issued after the summit also highlighted expanded military cooperation, including procurement of defense systems, joint exercises, sharing of emerging military technologies, maritime security, and search-and-rescue operations. Both governments agreed to increase visits by warships and military aircraft.

The Vietnamese State President also stressed the necessity of removing trade barriers and expanding market access for both sides. Su Lin, who has visited more than ten countries within a single year—handling foreign affairs personally for the first time, without delegating responsibilities—has made it his goal to transform Vietnam into a upper-middle-income country by 2030.

This diplomatic dynamism aims to attract high-tech investments, expand alliance networks (in line with the well-known “bamboo diplomacy” principle), and project an image of stability following a period of significant internal political turbulence.

Su Lin’s first overseas trip after assuming office was a mid-April visit to China, where he strengthened strategic cooperation and signed multiple bilateral agreements. This visit demonstrates that Vietnam cannot afford to ignore this Asian giant; China remains Vietnam’s largest trading partner.

Before departing for Beijing, the Vietnamese State President received Slovak Prime Minister Robert Fico, who led a delegation of 100 business leaders. At the end of their meeting, the two nations signed 16 agreements covering defense, nuclear energy, healthcare, and culture, upgrading their bilateral relations to a “strategic partnership,” making Slovakia a primary gateway for Vietnamese goods into Central Europe.

In early January, after the successful implementation of the EU-Vietnam Free Trade Agreement (EVFTA), European Council President António Costa also visited Vietnam, aiming to strengthen economic ties. The agreement officially entered into force in 2020, designed to reduce tariffs—but in practice, it enabled Vietnam to become an alternative to China in European supply chains and helped balance Chinese influence while deepening connections with Western partners. In March, unexpectedly, the Vietnamese president attended the inaugural ceremony of the Gaza Peace Committee established by U.S. President Donald Trump.

Costa toured the construction site of Hanoi Metro Line 3 (partially funded by the EU) and paid homage to the Bac Son Monument, erected in memory of heroes who sacrificed their lives during the Vietnam War. Japanese Prime Minister Satake Hayato also visited Vietnam. Beyond technical cooperation and green transformation, Satake delivered a major speech at Vietnam National University, emphasizing the importance of this Southeast Asian nation in maintaining a “free and open Indo-Pacific” amid rising regional tensions.

Source: Asia News

Original: toutiao.com/article/1864869031109635/

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