Vietnam and Sri Lanka: Trade Cooperation Enhanced

On 21^st August, at the office of the Ministry of Industry and Trade, Minister Vu Huy Hoang held talks with Mr Rishad Badiutheen. The main content of the meeting was to review the cooperation in the field of trade, industry and investment between the two countries; to implement a number of specific cooperation programmes between the Ministry of Industry and Trade of Vietnam and that of Sri Lanka in the upcoming time and to propose a number of measures to strengthen cooperation in the areas where the two ministries are in charge of.

 

Regarding the completion of the legal framework and creating a favourable environment to promote cooperation in the field of trade and industry between Vietnam and Sri Lanka, the two sides agreed that it is important to promote the establishment of the Joint Trade Subcommittee. Besides, Minister Vu Huy Hoang also suggested that the two sides continue to promote the implementation of the Memorandum of Understanding on oil and gas and mechanics cooperation between the two countries, creating favourable conditions for the Vietnam Oil and Gas Group and the Vietnam National Petroleum Group with Sri Lanka's partners in the oil and gas sector.

 

The Ministry of Industry and Commerce of Sri Lanka wishes to learn experiences on export promotion which Vietnam has done very successfully. Vietnam’s Ministry of Industry and Trade also wants the two sides to strengthen exchanges and stricter cooperation on export of goods of mutual strengths such as tea, dried coconut, rubber, textile products, leather and footwear, etc.

 

The two sides also agreed to enhance exchange of Ministerial delegations, organise business delegations to visit and work in each country, establish mechanisms to increase the availability of information on business and investment opportunities, publish list of large international exhibitions and prestigious companies in the field of export and import.

 

During the visit, the Sri Lanka’s delegation also had a working meeting with Ms Pham Thi Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI). At the meeting, the two sides discussed ways to promote cooperation between the governments and enterprises of the two countries.