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India, Vietnam deepen strategic ties, set $25 bn bilateral trade target for 2030.
India and Vietnam upgraded their relationship to an enhanced comprehensive strategic partnership in June 2024.
KEY POINTS
- The countries signed a rare earths cooperation MoU to reduce supply chain dependence on China.
- A $25 billion annual bilateral trade target has been set for 2030 with new facilitation measures.
- India offered maintenance, repair, and overhaul support for Vietnam's Sukhoi 30 jets and Kilo submarines.
- Both sides agreed to update the ASEAN India Trade in Goods Agreement (AITIGA) by end of 2024.
COMPANIES
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