India’s oil exploration in the South China Sea off the coast of Vietnam has recently run into rough weather with China objecting to India’s presence in the area.

“We highly appreciate India’s persistent support of a peaceful resolution for the disputes in the East Sea of Vietnam on the basis of international laws, and in particular the 1982 enclaves ensuring maritime security and safety and freedom of navigation in the Asia-Pacific region,” said the visiting Secretary General of the Communist Party of Vietnam Nguyen Phu Trong after concluding the delegation level talks with the Indian Prime Miniser Dr Manmohan Singh here on Wednesday.

Later a joint statement signed by the two leaders said : “They agreed that freedom of navigation in the East Sea/South China Sea should not be impeded and called the parties concerned to exercise restraint, avoid threat or use of force and resolve disputes through peaceful means in accordance with universally recognized principles of international law, including the UNCLOS. They also welcomed the collective commitment of the concerned parties to abide by and implement the 2002 Declaration on the Conduct of Parties in the South China Sea and to work towards the adoption of a Code of Conduct in the South China Sea on the basis of consensus. They called for cooperation in ensuring security of sea-lanes, maritime security, combating piracy and conducting search and rescue operations.”

The Indian Prime Minister Dr Manmohan Singh while hosting a banquet in the honour of the visiting dignitary said : “We are working together on oil exploration and production in the East Sea and your offer of new blocks for exploration and award of a $1.8 billion projects to Indian companies demonstrate the promise of our economic relations.”

Both the countries also signed a MoU on sharing and protection of classified information relating to defence. The MoU is based on the principles of the MoU on Defence Cooperation signed between the two countries in November 2009 to recognise the benefits of sharing of information and to confirm mutual interest in protection of such information in accordance with the respective national laws and relevant provisions.

“India will continue to assist Vietnam in modernization and training of its defence and security forces, including through a $100 million line of credit for defence purchases,” said Prime Minister Dr Singh.

Both the countries agreed to raise the level of their bilateral trade from the existing $7 billion to $15 billion by 2020.

An Air Service Agreement was signed between the two countries which seeks to promote international air services, including direct flights between the two countries and also to promote an international aviation system based on competition among airlines. The ASA will ensure the highest degree of safety and security in international air services and reaffirms the grave concern about acts or threats against the security of aircraft, which jeopardize the safety of persons or property and adversely affects the operation of air services.

A MoU was signed between the finance ministries of two countries which will permit the parties to strengthen exchanges and share experiences in the fiscal policies for transitional economies, macro economic management, budget management process, financial policies to support high technology and software technology development. Exchange of financial policies would be used to develop policies in related areas as mutually agreed by the Parties.

Another MoU was signed between the Vietnam Ministry of Industry and Trade and Tata Power Ltd for development of the Long Phu-II thermal power project in Soc Trang in Vietnam. The MoU approves TATA Power belonging to TATA Group to act as Investor to develop Long Phu 2, coal-fired Power Plant Project of 2x660 MW capacity. The Project will be designed, engineered, procured, contracted, constructed, owned, operated and maintained through a BOT Company owned by TATA Power and additional investors, with TATA Power as the lead member and will reach commercial operation in accordance with Agreements with the Vietnam side.

A MoU was signed for setting up of the Indira Gandhi Hi-tech Crime Lab (IGHCL) in Hanoi in Vietnam. The MoU reaffirms the desire to further strengthen and consolidate the cooperation between the two countries in the field of crime investigation, counter terrorism and other transnational organized crime, and other relevant areas. India shall provide financial grant towards procurement of technical equipment for IGHCL, teaching aids, training programmes for staff members and deputation of experts and Vietnam shall provide a permanent venue and related infrastructure to establish the IGHCL in Hanoi.

An agreement was signed for cooperation between Hanoi National University and Indian Council for Scientific and Industrial Research (CSIR). The MoU is based on the principles of the MoU on Defence Cooperation signed between the two countries in November 2009 to recognise the benefits of sharing of information and to confirm mutual interest in protection of such information in accordance with the respective national laws and relevant provisions.

“The PARAM High Performance Computing Facility has just been inaugurated at the Hanoi University of Science and Technology, which is India’s first gift of a supercomputer to another country,” said Prime Minister Dr Singh and added : “we have identified education and information technology as important areas for further collaboration.”

A MoU was signed for cooperation between Indian Institute of Management, Bangalore and HCM National Academy of Public Administration. The MoU shall focus on the activities and programmes such as exchange of faculty members and students, joint research activities, participation in seminars and academic meetings, exchange of academic materials and other information, special short-term academic programmes, training programmes and study tours. The cooperation will initially be focused on Public Policy, Entrepreneurship, Corporate Governance, Training for executives from public and private sector enterprises, Social Sciences and Student & Faculty Exchanges.

Vietnam will set up its first overseas catfish breeding farm in India. It reiterated its support for India’s candidature for a permanent seat in the expanded UN Security Council as well for a non-permanent seat in the body.