Vietnam and India aim to boost trade, defense cooperation

Vietnam and India have agreed to boost their trade while expanding their cooperation in defense and security, among other areas.

Speaking to reporters at a joint press briefing in Vietnam‘s capital, Hanoi, Indian President Ram Nath Kovind said Tuesday that he believes the bilateral trade volume will reach $15 billion by 2020, up from $12.8 billion last year.

Kovind said he and Vietnamese President Nguyen Phu Trong also reviewed the implementation of an Indian credit line of $100 million to high-speed patrol vessels for Vietnam’s coast guard.

Trong said the two countries will find ways to boost their modest investment.

Kovind is on a three-day visit to Vietnam, where he is scheduled to meet with Prime Minister Nguyen Xuan Phuc later Tuesday before departing.