Sri Lankan PM urges serious efforts to achieve US$1bln trade value

Speaking at the event, the PM said Sri Lanka wants to establish ties with many countries worldwide, especially those in Asia, including Vietnam, vowing that the South Asian country always provides all possible support for investors there. 

Sri Lankan businesses are interested in extending their commercial reaches to the ASEAN member states and continuing to invest in Vietnam, he said, adding that both sides should further boost tourism cooperation. 

In order to become an export-reliant economy, he suggested investing in the Indian Ocean and Sri Lanka in particular. 

As Vietnam and Sri Lanka share similarities, the PM encouraged Vietnamese firms to invest in transport, industry, shipbuilding, logistics and automobiles. 

Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc lauded Sri Lanka’s English proficiency among the general public, the use of European trade law system and standards, which he said, are extremely significant for the country to fulfill the goal of becoming a transit hub and gateway to the Indian Ocean. 

He emphasised that Vietnam is a gateway for Sri Lanka to navigate the Southeast Asian markets. 

As a member of free trade agreements with almost major economies across the world, Vietnam is hastening renovation and business climate improvement while facilitating start-ups, he said. 

On the occasion, representatives from the two countries’ ministries and agencies introduced respective strengths and potentials and discussed specific cooperative ideas.