India And Vietnam sign 12 agreements in various fields.
During the recent state visit of PM Narendra Modi to Vietnam, both the countries discussed whole lot of issues ranging from defence, IT, space, double taxation avoidance, shipping, etc. Some takeaways from the visit:
* India extended $500 million line of credit to Vietnam for facilitating deeper defence cooperation.
* The line of credit obliges Vietnam to sign contracts with Indian companies, though nothing such is ever officially mentioned.
* The 12 agreements signed also included a deal to construct offshore patrol boats for Vietnam.
* Other agreements were based on areas like IT, space cooperation, taxation, sharing shipping information, etc.
The visit is being seen as aimed towards jointly piling pressure on China. Both the countries share their interests in South China Sea and are worried about growing presence and aggression of dragon in the area.
Image courtesy - PMO INDIA
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