What's new

Vietnam to facilitate Sri Lanka's entry into ASEAN economy

Azizam

BANNED
Joined
May 26, 2013
Messages
3,512
Reaction score
-8
Country
Sri Lanka
Location
United Kingdom
Hoang Quoc Vuong ( Vietnamese Vice Minister of Industry and Trade-right) and SS Miyanawala (Secretary-Ministry of Industry and Commerce of Sri Lanka-left) sign the agreed minutes of the first meeting of Sub-Committee on Trade under the Viet Nam - Lanka Joint Commission held in Colombo on 26 March at Kingsbury Hotel, Colombo.


With a call to quadruple bilateral trade to $1 Bn, Sri Lanka and Vietnam inked the minutes of the successful first official joint trade meet on the eve of 26 March in Colombo.


Interestingly, private sector players of the communist party state Vietnam are enlisted to take the lead in Sri Lanka's opening to ASEAN's rising economy. "At present we are far below the trade potential in comparison to the future target of $1Bn bilateral trade that we both target. At today's meeting we formulated the directions of future trade and investment cooperation" said a pleased Hoang Quoc Vuong (Vietnamese Vice Minister of Industry and Trade) on 26 March in Colombo.


Vietnam is the third rising economy within ASEAN followed by Indonesia and Philippines. According to the Department of Commerce of Sri Lanka, bilateral trade between the two countries have been increasing steadily. Total trade jumped by a strong 88% to $224 Mn in 2013 from 2012's $120 Mn. It further increased by 17% to $271 Mn in 2014. Interestingly, the growth was driven by the increase of Lankan exports to the 90 million market of Vietnam-a huge 84% rise in 2014 to $79Mn from 2013's $43 Mn. In 2013, 10% of Lanka's exports to Vietnam were natural rubber while apparels exports stood at 2%.

The Island
 
@waz Can you change the "ietnam" into "Vietnam" please. :D

Edit: Thanks!
 
Vietnam and Sri Lanka is a diverse country, home to many religions, ethnicities and languages. But I think, we can say that we shared Buddhism sphere heritage, South and South East Asia countries could work together for develop our country in 21th century as well.
 
Vietnam and Sri Lanka is a diverse country, home to many religions, ethnicities and languages. But I think, we can say that we shared Buddhism sphere heritage, South and South East Asia countries could work together for develop our country in 21th century as well.
:cheers:

I am sure SL would be an ideal candidate for ASEAN. Indeed, we do have many things in common. Sri Lanka is even known as a cross between Thailand and India.
 
Vietnam President Visited SL .:cheers:

truong-tan-sang-sri-lanka.jpg


truong-tan-sang-sri-lanka-duyet-doi-danh-du.jpg
 
Back
Top Bottom