In the meeting with Prime Minister Phuc, the two leaders expressed satisfaction at the growth of bilateral relations between the two countries within the framework of Comprehensive Strategic Partnership, including in the fields of maritime cooperation in the Indo-Pacific region, defence, oil and gas, trade and investment.
The leaders also agreed that the two agreements signed during this visit viz., on cooperation in the fields of Information & Broadcasting and on the establishment of tracking and data reception station and data processing facility in Vietnam under the ASEAN-India Space Cooperation would give a further boost to India-Vietnam relations.
They expressed satisfaction at operationalisation of the Line of Credit of USD 100 million under which L&T has been awarded a contract for the manufacture of Offshore Patrol Vessels (OPVs). They decided that the other Line of Credit of USD 500 million be operationalised soon.
During the meeting with President Duterte, the two leaders reviewed the progress in bilateral relations and in global and regional situation since their meeting in Manila in November 2017.
It was agreed to give further momentum to cooperation between the two countries, particularly in the field of infrastructure development.
They also agreed that under India's Act East Policy and the Philippines' Build-Build-Build Programme, there are several areas for cooperation between private sectors of the two countries. The two leaders further witnessed the exchange of a MoU (Memorandum of Understanding) between Invest India and Board of Investments of the Philippines.
In all the three meetings, the visiting dignitaries underscored the importance of ASEAN-India relations for peace, security and socio-economic development in the Indo-Pacific region, and looked forward to the deliberations in the AICS.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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