Nhan Dan Online – Vietnam highly values the trade co-operation potential with Sri Lanka and wishes to boost bilateral exchanges and ties in the fields and export items of mutual strengths.
Minister of Industry and Trade, Vu Huy Hoang made this statement during his meeting with Sri Lankan Minister of Industry and Commerce, Rishad Badiutheen in Hanoi on August 21, which aimed to accelerate trade, industrial and investment ties between the two countries.
Both sides agreed to promptly establish a joint sub-committee on trade and speed up realisation of the memorandum of understanding on bilateral oil and gas and mechanical co-operation, with a view to enabling Vietnam National Oil and Gas Group and Vietnam National Petroleum Group to carry out co-operative activities with Sri Lankan partners.
They also reached consensus on promoting ministerial-level delegation exchange, arranging working visits for the two nations’ businesses and establishing a mechanism to update each country’s enterprises with information on investment opportunities.
Minister Rishad recommended Vietnam share experience in boosting exports, while appealing to Vietnamese partner enterprises to supply rice for Sri Lanka, as it is in need of purchasing about 15,000 tonnes of rice.
According to the Ministry of Industry and Trade, Sri Lanka is currently ranked 65th out of 101 countries and territories investing in Vietnam, with 10 projects and total registered capital of over US$14 million.
Vietnam earned US$66 million from exports to Sri Lanka in the first six months of 2014, a year-on-year increase of 11.8%, while its import turnover from the South Asian country reached US$43 million, up 139% compared to the same period last year.
Specifically, Vietnam mainly shipped clinker, fibres, textiles, rubber products, mobile phones and components to Sri Lanka in 2013, while importing cattle food, pepper, leather and footwear, gemstones and precious metals.
Sri Lanka is an important gateway in South Asia, with a territorial area of over 65,000 square kilometres and a population of 21.9 million people.
(Source: Vietnam+/ Translated by Nhan Dan Online)
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