India affirms long-term cooperation with Vietnam in petroleum exploration and production in the East Sea

India's new government continues to treat Vietnam as one of the pillars of India's Look East policy. It was confirmed by the Indian External Affairs Minister Sushma Swaraj in the talks with Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh yesterday (25th August) in her official visit to Vietnam from 25th to 26th August.

In recent years, the bilateral relations have been positively developed, especially on the pillars of strategic partnerships of Vietnam - India. Both sides are striving to reach the trade turnover of US$ 7 billion (by 2015) and US$ 15 billion (by 2020) as agreed by the two countries' leaders. At the talks, the Vietnamese side welcomed the upcoming state visit to Vietnam of the Indian President Pranab Mukherjee.

Also at the talks, both sides agreed to effectively promote mechanisms for bilateral cooperation, pledged to facilitate enterprises of the two countries to strengthen economic cooperation and investment. Vietnam and India welcomed the plan of Indian airline Jet Airways to open direct flights between the two countries in November 2014 and thought it would create more favorable conditions for the economic, commercial, cultural and tourism activities.

Discussing recent complicated developments in the East Sea, both sides agreed on the importance of ensuring peace, stability, security, maritime safety and resolving disputes in the East Sea with peaceful measures on the basis of international laws, including the UN Convention on the Law of the Sea (UNCLOS).

UNCLOS 1982, full and strict implementation of Declaration on the Conduct of Parties in the East Sea (DOC), early completion of a Code of Conduct (COC). Vietnam highly appreciated India’s affirmation to continue the long-term cooperation with Vietnam in petroleum exploration and production in the East Sea.