Sri Lanka, Viet Nam to raise bilateral trade to US$1 billion by 2020

Sri Lanka, Viet Nam to raise bilateral trade to US$1 billion by 2020

Sri Lankan Prime Minister Ranil Wickremesinghe and Viet Nam Deputy Prime Minister Pham Binh Minh have agreed to promptly organize the second meeting of the joint trade subcommittee in Viet Nam to set out specific measures to lift bilateral trade to US$1 billion by 2020.

The two leaders agreed to hold the fourth meeting of the Viet Nam-Sri Lanka joint committee in 2019 when they met on August 28 in Ha Noi on the occasion of Sri Lankan PM’s visit to Viet Nam to co-chair the Indian Ocean Conference (IOC).

The two sides also agreed to sign a memorandum of understanding on fishery cooperation over the next three years, an official statement of the Viet Nam government said.

They were also unanimous in giving priority and expanding cooperation in other potential fields such as education-training, telecommunications, information and digital technology, oil and gas, aviation, maritime transportation, agricultural and aquatic product processing and distribution, cultural and youth exchanges, arts, Buddhism and sports.

Mr. Wickremesinghe affirmed that Sri Lanka would continue closely coordinating with Viet Nam in regional and international forums, particularly the United Nations and the Non-Aligned Movement.

Deputy PM Minh asserted that Viet Nam attaches importance to and expects to develop the traditional relationship with Sri Lanka, expressing thanks to Sri Lanka for supporting Viet Nam’s candidacy for a non-permanent seat in the United Nations Security Council for the 2020-2021 term.

He proposed Sri Lanka express a more active voice in the East Sea issue by backing the stance of Viet Nam and ASEAN, especially in the principled matters such as freedom of navigation and aviation, respect for international law and settlement of disputes through peaceful measures.


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