September 13, 2026 | 11:00

Vietnam, India set $25 bln trade target, deepen economic connectivity

Ha Le

During his talks with Indian Prime Minister Narendra Modi in New Delhi on September 12, Vietnamese Prime Minister Le Minh Hung said Vietnam welcomed investment by major Indian corporations, particularly in technology, infrastructure, energy and pharmaceuticals.

Vietnam, India set $25 bln trade target, deepen economic connectivity
Prime Minister Le Minh Hung (L) and his Indian counterpart Narendra Modi pose for a photo before their talks. (Photo: chinhphu.vn)

Prime Minister Le Minh Hung on September 12 held talks with Indian Prime Minister Narendra Modi as part of his working trip to India to attend the 18th BRICS Summit in New Delhi, reported the Government News.

The two leaders noted that Vietnam and India are among the world’s fastest-growing economies, with highly complementary strengths and enormous potential for further cooperation. They expressed their determination to step up measures to raise bilateral trade to $25 billion at an early date, while facilitating market access for products from both countries, particularly pharmaceuticals, agricultural products, seafood and livestock products.

PM Hung proposed that the two sides establish economic corridors and supply chains to enhance connectivity between the two economies; consider launching negotiations on a bilateral Free Trade Agreement; and actively coordinate with ASEAN member states to accelerate the completion of the review of the ASEAN-India Trade in Goods Agreement (AITIGA).

The Vietnamese Govenrment leader said Vietnam also welcomed investment by major Indian corporations, particularly in technology, infrastructure, energy and pharmaceuticals.

The two Prime Ministers underscored the importance of connectivity by road, rail, air and sea. They agreed to study ways to promote railway connectivity projects, establish a South Asia–Southeast Asia connectivity corridor, and strengthen links between the two countries’ seaports in connection with the Eurasia maritime route.

PM Hung proposed that India continue increasing the frequency of direct flights connecting major cities of the two countries.

PM Le Minh Hung (L) held talks with India PM Narenda Modi on September 12. (Photo: chinhphu.vn/Nhat Bac)
PM Le Minh Hung (L) held talks with India PM Narenda Modi on September 12. (Photo: chinhphu.vn/Nhat Bac)

Expanded cooperation in technology, defense and security

The two Prime Ministers assessed that defence and security cooperation is an important pillar of bilateral relations. They agreed to step up cooperation in defence industry and military trade, training, and the provision of preferential credit, while working to convene the first meeting of the Foreign Affairs–Defence Dialogue mechanism at an early date.

In the fields of science and technology, PM Hung proposed that the two sides soon develop a Vietnam–India technology connectivity strategy, focusing on key sectors such as artificial intelligence (AI) and 5G/6G mobile network technologies. He also proposed establishing cooperation programmes on training AI and semiconductor engineers, providing digital technology training for young people, and connecting start-ups and innovation enterprises of the two countries.

Highlighting the two countries’ longstanding strengths and close ties in culture, civilisation, history and religion spanning thousands of years, the two leaders expressed their desire to leverage these advantages to further expand cooperation in tourism and culture, preserve and promote cultural values, and strengthen people-to-people exchanges, thereby consolidating the solid foundation of friendship between the two countries.

PM Hung proposed that the two sides step up cultural and sports exchanges, as well as cooperation in yoga and Buddhist exchanges in 2027 to mark the 55th anniversary of the establishment of diplomatic relations between Vietnam and India.

Prime Minister Narendra Modi expressed his agreement with PM Hung’s proposals and affirmed that the Government of India will continue to support and make efforts to implement measures to promote cooperation between the two countries across various fields, further deepening bilateral relations in a substantive and effective manner.

The two Prime Ministers agreed to strengthen coordination and mutual support at regional and international forums.

Attention
The original article is written and published on VnEconomy in Vietnamese, then translated into English by Askonomy – an AI platform developed by Vietnam Economic Times/VnEconomy – and published on En-VnEconomy. To read the full article, please use the Google Translate tool below to translate the content into your preferred language.
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