10 Points: PM Modi Announces $500 Million Credit Line For Vietnam.
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10 Points: PM Modi Announces $500 Million Credit Line For Vietnam.

  • The two countries have signed 12 agreements for cooperation in areas like defence and IT.
  •  In a move that will be closely watched by Beijng, India has extended a new 500 million dollar line of credit for defence to Vietnam, which faces pressure from an increasingly assertive China in their dispute over the South China Sea maritime region.
  • “Our discussion covered the full range of bilateral issues. We are two important countries in the region and it is necessary to converge our regional ties, growing economic opportunity in the region and responding to regional challenges,” PM Modi said in a statement after the talks.
  • He invited Vietnamese companies to invest in India and said the trade target of 15 billion dollars by 2020 must be achieved.
  • PM Modi landed in Vietnam late on Friday evening in the first visit by an Indian premier in 15 years. He leaves on Saturday evening for the Chinese city of Hangzhou, where the G20 summit is being held.
  • On Sunday, PM Modi will meet Chinese President Xi Jinping on the sidelines of the summit.
  • It will be their first meeting after the Shanghai Cooperation Organisation (SCO) summit held in Uzbekistan capital Tashkent in June, where PM Modi had urged China to make a “fair and objective” assessment of India’s application for membership to the 48-nation Nuclear Suppliers Group.
  • PM Modi will meet US President Barack Obama on Monday, September 5.
  • In Hangzhou, PM Modi will also hold bilateral meetings with the premiers of Australia, Saudi Arabia and Argentina. He will meet UK Prime Minister Theresa May for the first time since she took charge in July.
  • Before the G 20 summit begins on Sunday, PM Modi will attend a meeting of the BRICS nations – Brazil, Russia, India, China, South Africa. PM Modi returns to India on September 5 and two days later will leave for Vientiane, Laos, for two summits.

Source: ndtv

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