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At 8 PM on July 30, Prime Minister Pham Minh Chinh left Vietnam for New Delhi for his state visit to India. Photo: Nhat Bac

Responding to an invitation from Indian Prime Minister Narendra Modi, Prime Minister Pham Minh Chinh will visit India from July 30 to August 1.

This visit follows India's successful 18th Lower House elections and Prime Minister Narendra Modi's re-election for a third consecutive term.

Prime Minister Pham Minh Chinh is among the first foreign leaders invited to visit India following the country's recent parliamentary elections and the formation of a new government.

This is also his first visit since the two countries established a new framework for relations - the Comprehensive Strategic Partnership in 2016.

The Vietnam-India Comprehensive Strategic Partnership has seen positive developments with a solid foundation and high political trust. The two countries have expanded relations at various levels, maintaining regular high-level visits and exchanges across different channels.

Defense and security remain key pillars, with the two nations signing the Joint Vision Statement on Defense Partnership and the Memorandum of Understanding on Mutual Logistics Support in June 2022, as well as defense industry cooperation.

In terms of the economy, bilateral trade has increased 2.5 times since the upgrade to a Comprehensive Strategic Partnership in 2016, reaching nearly $15 billion in 2023. By May 2024, bilateral trade stood at nearly $5.94 billion, with Vietnam exporting $3.56 billion to India and importing nearly $2.38 billion from India.

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The Indian Ambassador to Vietnam bids farewell to Prime Minister Pham Minh Chinh as he departs for his state visit to India. Photo: Nhat Bac

India currently has 380 active investment projects in Vietnam with a total capital of $1.067 billion, ranking 24th out of 144 countries and territories investing in Vietnam.

The two countries see great potential in trade and investment cooperation, leveraging strengths such as the world's most populous market and dynamic economic development.

Recently, major Indian corporations have shown interest in the Vietnamese market in strategic fields such as renewable energy, manufacturing, pharmaceuticals, infrastructure, and logistics. Cooperation in science and technology, information and communication, education and training, culture and tourism, and people-to-people exchanges has also developed positively.

According to the Vietnam National Administration of Tourism, in the first five months of 2024, the number of Indian visitors to Vietnam reached 196,000, up 39.2% from the same period in 2023, making India one of the top 10 source markets for Vietnam. In 2023, Vietnam welcomed approximately 355,000 Indian tourists.

Air and sea connectivity between the two countries has been strengthened, with 54 direct flights per week currently.

Agricultural and educational cooperation continues to achieve positive results, and cooperation in energy and oil and gas is developing well.

India, an important member of many multilateral forums and international platforms, regularly supports and cooperates with Vietnam at regional and international forums, particularly at the United Nations.

Thu Hang