India and Vietnam Issue Joint Statement on 7 May 2026 Elevating Ties to Enhanced Comprehensive Strategic Partnership; 13 MoUs Signed and USD 25 Billion Trade Target Set for 2030
India-Vietnam elevate ties to Enhanced Comprehensive Strategic Partnership on 7 May 2026, signing 13 MoUs and setting a USD 25 billion trade target by 2030 during President To Lam's State Visit.
pmindia.gov.in
Key Points for RAS
- Joint Statement issued on 7 May 2026 at conclusion of President To Lam State Visit (5-7 May 2026)
- Bilateral relations elevated from Comprehensive Strategic Partnership (2016) to Enhanced Comprehensive Strategic Partnership
- 13 MoUs signed including on rare earth elements (IREL-Vietnam ITRRE), culture, tourism, digital payments, science and technology
- New trade target of USD 25 billion by 2030 announced; current bilateral trade is around USD 15 billion
- Vietnam recognised as key pillar of India's Act East Policy, Vision MAHASAGAR and Indo-Pacific Vision; 2026 marks 10th anniversary of Comprehensive Strategic Partnership
India and Vietnam on 7 May 2026 issued a Joint Statement on Enhanced Comprehensive Strategic Partnership at the conclusion of the State Visit of Vietnam's General Secretary of the Communist Party Central Committee and State President To Lam, who was in India from 5 to 7 May 2026 at the invitation of Prime Minister Narendra Modi. The two sides formally elevated bilateral relations from Comprehensive Strategic Partnership, set in 2016, to Enhanced Comprehensive Strategic Partnership and announced a fresh bilateral trade target of USD 25 billion by 2030, up from current trade of around USD 15 billion. A total of 13 Memorandums of Understanding were signed covering rare earth elements between IREL India and Vietnam's Institute for Technology of Radioactive and Rare Elements, a Cultural Exchange Programme for 2026 to 2030, ICCR Chairs of India Studies in Vietnamese universities, capacity building cooperation between Nalanda University and the Ho Chi Minh National Academy of Politics, tourism, digital payments through UPI linkage, customs cooperation, science and technology, and disaster management. The leaders described the maritime domain as a key pillar and called for regular Maritime Security Dialogues, while reaffirming an open, free, inclusive Indo-Pacific anchored in international law. The Joint Statement recognised Vietnam as a key pillar of India's Act East Policy, Vision MAHASAGAR and Indo-Pacific Vision, and noted that 2026 marks the 10th anniversary of the Comprehensive Strategic Partnership.
Frequently Asked Questions
1 What level of partnership did India and Vietnam announce on 7 May 2026?
Both countries elevated their ties to an Enhanced Comprehensive Strategic Partnership through a Joint Statement issued on 7 May 2026.
2 How many MoUs were signed during President To Lam's State Visit?
A total of 13 Memorandums of Understanding were signed across rare earths, culture, tourism, digital payments, education, science and technology, customs and disaster management.
3 What bilateral trade target did the two sides set?
They announced a new bilateral trade target of USD 25 billion by 2030, up from current trade of around USD 15 billion.
4 How does Vietnam fit into India's broader regional strategy?
Vietnam was recognised as a key pillar of India's Act East Policy, Vision MAHASAGAR and Indo-Pacific Vision, with strong emphasis on maritime cooperation.
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