Hellraiser007
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India to give $19 million, patrol boats to Vietnam - The New Indian Express
As Vietnam acknowledged Indias right to explore oil and gas in offshore blocks in the South China Sea, New Delhi has offered an additional soft loan of $19.5 million, a PARAM supercomputer and patrol boats to the southeast Asian nation.Visiting Vietnam Foreign Minister Pham Binh Minh said the dispute on the South China Sea did feature in the joint commission meeting, which he co-chaired with External Affairs Minister Salman Khurshid.
I had discussions on a wide range of issues of mutual interest. The South China Sea or East Sea was discussed, the Vietnamese minister said.
He said both sides reaffirmed that all the countries bordering the South China Sea have a right to their exclusive economic zones. He also said India should pursue exploration and exploitation work in the exclusive economic zone of Vietnam. In response, Khurshid said India expressed its commitment to continue our cooperation on oil and gas in Vietnam, adding that these were commercial ventures by Indian companies.
A part of ONGC Videshs offshore block 128 is claimed by China, which has staked a claim to the region rich in hydrocarbons. China has increasingly been assertive about its claims, especially vis-à-vis the South China Sea and its territorial claims with Japan. Khurshid, who recently attended an Asean summit in Brunei Darussalam, said there had been increasing convergence of views towards negotiating a code of conduct within the regional grouping. He noted that India had also said that any contentious issue should be settled in a peaceful manner, through dialogues.
Khurshid described the supply patrol boats to Vietnam as a major and unique step for expression of friendship. The $19.5 million loan is for setting up the Nam Trai-IV hydropower project and the Binh Bo pumping station in Vietnam. With this soft loan, Indias total 17 lines of credits to the country will stand at $164.5 million.
The indigenously-developed PARAM supercomputer that India is giving Vietnam costs `4.7 crore and will be used in multiple applications.
As Vietnam acknowledged Indias right to explore oil and gas in offshore blocks in the South China Sea, New Delhi has offered an additional soft loan of $19.5 million, a PARAM supercomputer and patrol boats to the southeast Asian nation.Visiting Vietnam Foreign Minister Pham Binh Minh said the dispute on the South China Sea did feature in the joint commission meeting, which he co-chaired with External Affairs Minister Salman Khurshid.
I had discussions on a wide range of issues of mutual interest. The South China Sea or East Sea was discussed, the Vietnamese minister said.
He said both sides reaffirmed that all the countries bordering the South China Sea have a right to their exclusive economic zones. He also said India should pursue exploration and exploitation work in the exclusive economic zone of Vietnam. In response, Khurshid said India expressed its commitment to continue our cooperation on oil and gas in Vietnam, adding that these were commercial ventures by Indian companies.
A part of ONGC Videshs offshore block 128 is claimed by China, which has staked a claim to the region rich in hydrocarbons. China has increasingly been assertive about its claims, especially vis-à-vis the South China Sea and its territorial claims with Japan. Khurshid, who recently attended an Asean summit in Brunei Darussalam, said there had been increasing convergence of views towards negotiating a code of conduct within the regional grouping. He noted that India had also said that any contentious issue should be settled in a peaceful manner, through dialogues.
Khurshid described the supply patrol boats to Vietnam as a major and unique step for expression of friendship. The $19.5 million loan is for setting up the Nam Trai-IV hydropower project and the Binh Bo pumping station in Vietnam. With this soft loan, Indias total 17 lines of credits to the country will stand at $164.5 million.
The indigenously-developed PARAM supercomputer that India is giving Vietnam costs `4.7 crore and will be used in multiple applications.
