Vietnam, Sri Lanka aim to bring trade to US$1 billion

08:45 | 17/09/2018 Cooperation

The Prime Ministers of Vietnam and Sri Lanka have agreed to strive to bring two-way trade to US$1 billion during their meeting in Hanoi on September 11.

PM Nguyen Xuan Phuc (L) welcomes his Sri Lankan counterpart Ranil Wickremesinghe in Hanoi on September 11 - Photo: VNA

PM Nguyen Xuan Phuc and his Sri Lankan counterpart Ranil Wickremesinghe said despite positive progress, bilateral cooperation across the fields has yet to match the two countries’ potential. They reached a consensus that the second meeting of the joint trade sub-committee should be held as early as possible in Vietnam to seek ways to bolster trade.

The two government leaders also shared the view that the joint committee should hold the fourth meeting in 2019 and the two countries should sign a MoU on fishery cooperation for the next three years.

They agreed to facilitate the expansion of partnership in fields of potential for cooperation such as education-training, telecommunications, information and digital technology, oil and gas, aviation, maritime, processing of agricultural and aquatic products, cultural and art exchange, Buddhism, sports, and youth exchange.

PM Ranil Wickremesinghe, who is in Vietnam to attend the World Economic Forum on ASEAN 2018, praised the accomplishments that Vietnam has made in socio-economic development in the past years and the country’s increasing role in the region and the world, saying that Vietnam is a model of socio-economic development for other countries.

He expressed the wish to set up ties between the ruling party in Sri Lanka and the Communist Party of Vietnam, while affirming the intention to continue working closely with Vietnam at regional and international forums, especially the United Nations and the Non-aligned Movement.

PM Nguyen Xuan Phuc stressed that the two countries should pay attention to aviation connection, which he said is the most effective way to develop trade and tourism.