Prime Minister Narendra Modi on Saturday met his Vietnamese counterpart Nguyen Xuan Phuc for one-to-one talks ahead of delegation-level talks.
India and Vietnam sign 12 agreements for cooperation in areas, including defence and IT, to boost bilateral ties.
Modi said that India will provide $500 million credit line for Vietnam for defence cooperation. India also offered a grant of $5 million to set up a software park in Vietnam.
The pacts included agreement on exploration and uses of outerspace for peaceful purposes, agreement on avoidance of double taxation, health cooperation, IT cooperation, cyber security and agreement on contract and design, building of boat in India, equipment supply and technology transfer.
In addition, MoU between Vietnamese Academy of Social Science and Indian Council of World Affairs, MoU between BIS and STAMEQ for mutual recognition of standards, agreement on setting up of sustainable IT Infra for advanced IT training and protocol between Vietnam and India on celebrating 2017 as ‘The Year Of Friendship’ were also signed.