NEW DELHI: India and Philippines have pledged to give further boost to their bilateral ties and agreed that there should be more cooperation among private players.
Prime Minister Narendra Modi and the visiting Philippines President Rodrigo Duterte held bilateral talks here on Thursday.
“It was agreed to give further momentum to cooperation between the two countries, particularly in the field of infrastructure development.
They agreed that under India’s Act East Policy and the Philippines’ Build-Build-Build Programme, there are several areas for cooperation between private sectors of the two countries,” a MEA statement said here on Thursday.
During the meeting, the two leaders reviewed the progress in bilateral relations and in global and regional situation since their meeting in Manila in November 2017.
The leaders also witnessed exchange of an MoU between Invest India and Board of Investments of the Philippines. “This MoU aims to facilitate direct investment between our two countries by providing practical investment information to enterprises, promote direct investment opportunities, and support the companies pursuing those opportunities to contribute positively towards economic growth,” a MEA source said.
In the bilateral meeting with Vietnamese Prime Minister Nguyen Xuan Phuc, Prime Minister Modi and the visiting dignitary expressed satisfaction at the growth of bilateral relations between the two countries within the framework of Comprehensive Strategic Partnership, including in the fields of maritime cooperation in the Indo-Pacific region, defence, oil and gas, trade and investment.
They expressed satisfaction at operationalisation of the Line of Credit of US $ 100 million under which L&T has been awarded contract for manufacture of Offshore Patrol Vessels (OPVs).
They decided that the other Line of Credit of US $ 500 million be operationalised soon, the MEA statement said. The leaders agreed that the two agreements signed during this visit — on cooperation in the fields of Information & Broadcasting and on establishment of tracking and data reception station and data processing facility in Vietnam under the ASEAN-India Space Cooperation would give further boost to India-Vietnam relations.
The MoU signed between the Ministry of Information and Broadcasting of India and Ministry of Information and Communications of Vietnam would be to enhance cooperation in the field of information and broadcasting based on principles of equality and reciprocity.
(AGENCIES)
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