The interview was conducted prior to the Vietnamese President’s upcoming visit to India, which aims to enhance the traditional friendship and strategic partnership between the two countries.

Mr Sang said that last year bilateral trade was valued at more than US$2.7 billion. However, he added, Vietnam and India have not yet tapped their full potential

During his visit, President Sang is scheduled to meet with Indian leaders to seek ways to foster bilateral ties and strengthen cooperation in regional and international forums.

Mr Sang expressed his pleasure at the fine development of Vietnam-India relations in such fields as national security and defence, the fight against terrorism and trans-national crime, and maritime safety, for the sake of peace and stability in both countries and the region.

Vietnam welcomes India and other nations to invest in the oil and gas sector, said Mr Sang, affirming that the country will protect the legitimate rights of all its foreign trade partners.

Commenting on the controversial oil exploration by India's ONGC firm in two Vietnamese oil blocs in the East Sea, to which Chinese authorities have raised objections, President Sang confirmed foreign companies’ rights to explore oil on Vietnam’s continental shelf.

"All cooperation projects between Vietnam and its partners, including those in the field of oil and gas, are located on the continental shelf, within the exclusive economic zone and under Vietnam's sovereignty and jurisdiction, which conforms with international law, particularly the 1982 UN Convention on the Law of the Sea,” he stated.

”We welcome foreign companies to work with Vietnamese partners in oil and gas projects within Vietnam's continental shelf and exclusive economic zone, according to Vietnamese laws,” Mr Sang said.

In response to a PTI reporter’s inquiry about China’s relations with Vietnam and other neighbours, President Sang said that China plays an increasing role and has greater influence in the region and the world. “We hope that China’s development will make positive contributions to peace, stability and development in the region and the world,” he said.