India Grants Market Economy Status to Vietnam
India has granted “market economy status” to Vietnam, which will help boost the bilateral strategic partnership ties, Prime Minister Nguyen Tan Dung said.
PM Dung and his Indian counterpart Manmohan Singh witnessed the signing of a memorandum of understanding Oct 25 on the occasion of the East Asian summit, under which India recognizes Vietnam’s market economy.
Manmohan Singh told Dung that India has great impression on Vietnam, treasuring the bilateral strategic partnership ties, which will be beefed up by upcoming visits by President Nguyen Minh Triet and National Assembly Chairman Nguyen Phu Trong.
The MOU with Vietnam is part of India’s efforts to expand its trade with Asean to US$70 billion in the next two years.
Vietnam's trade with India hit US$2.5 billion last year, surpassing US$2 billion set by for 2010.
Speaking about the Asean presidency Vietnam will take next year, Mr Dung pledged to bring the Asean-China ties to new height for regional peace, prosperity; actively implement the Asean-China Joint Statement on Code of Conducts reached among the sides. (chinhphu.vn)
Vietnamese
