The event also aims to create favourable conditions for Vietnamese businesses to export goods and technologies to Sri Lanka.

At the meeting, the Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Hoang Van Dung, emphasized that two-way trade between Vietnam and Sri Lanka remains modest, and it is necessary to lift trade relations to a new height in the coming time.

He called on the two business communities to expand operation to raise bilateral trade to US$1 billion by 2015.

The President of the Sri Lankan Chamber of Industry and Commerce (SCIC), Asoka Hettigoda, expressed his wish to seek opportunities to import goods from Vietnam and cooperate with Vietnamese businesses in such fields as medical equipment manufacturing, construction of hospitals and hotels, pharmacy, garment making, coconut, tea and rubber processing and jewelry making. Mr Asoka Hettigoda also emphasized that Sri Lanka has great advantages in exporting tea, pepper and spices.

SCIC is the leading trade promotion agency in Sri Lanka, and is committed to supporting businesses of both nations in increasing two-way trade turnover.

The event included a signing ceremony for a cooperative agreement between VCCI and SCIC which will open more opportunities for cooperation and investment between the two countries in the future.