Enhancing Vietnam - Sri Lanka ties

(VOVworld) - Sri Lankan Prime Minister Ranil Wickremesinghe  and his wife on Monday began an official visit to Vietnam to boost bilateral traditional friendship cooperation. The 3-day visit is made at the invitation of Prime Minister Nguyen Xuan Phuc.
Enhancing Vietnam - Sri Lanka ties - ảnh 1
Vietnam and Sri Lanka agree to strengthen bilateral ties

Sri Lanka has developed steadily over the past few years. It is boosting economic diplomacy to become a regional center for navigation, aviation, and trade, and a connecting point between East and West.

Vietnam-Sri Lanka friendship is growing stronger

Vietnam and Sri Lanka established diplomatic ties in 1970. Sri Lankan leaders supported Vietnam during its war against the US and still has warm feelings toward Vietnam and President Ho Chi Minh. Sri Lanka has established an Association of Solidarity with Vietnam and an Association of Friendship with Vietnam. The Sri Lanka-Vietnam Friendship Foundation was established by the Marxist JVP Party. The Vietnam-Sri Lanka Friendship Parliamentary group was set up in early 2012, and in 2014 the Vietnam-Sri Lanka Friendship Association was established.

The two sides have regularly exchanged visits. The Speaker of the Sri Lankan Parliament visited Vietnam in 2013 and 2015. The Sri Lankan Prime Minister attended UN Vesak Day 2014 in Vietnam. The two countries established the Joint Committee for Economics, Science, and Technology in 2003 and the Political Consultation Mechanism in 2011. They plan to convene the 4th session of the Joint Committee later this year.

Bilateral trade, however, has not reached its full potential. It was only 320 million USD last year. Sri Lanka’s investment ranks 48th out of 110 countries and territories investing in Vietnam. So far, Sri Lanka has 15 projects in Vietnam with total registered capital of approximately 90 million USD. In 2011, the Vietnam Foreign Investment Agency and the Sri Lanka Bureau of Investment signed a cooperation agreement on promoting Sri Lanka’s investment in garments, rubber, electricity, electronics, gems and jewelry, and agro-and-food processing in Vietnam. The agreement encourages Vietnam to invest in telecommunications, agricultural machinery, aquaculture, oil and gas exploration and exploitation, and plastics and building material production in Sri Lanka. Cooperation in agriculture and fisheries has been a highlight of the relationship. Vietnam has provided technical support and training in aquaculture to Sri Lanka.

The two countries have supported each other at regional and global forums. Sri Lanka has recognized Vietnam’s full market economy status and supported Vietnam’s bids to join the UN Human Rights Council in the 2014-2016 tenure, the UN Economic and Social Council in the 2016-2018 tenure, and the UN Security Council in the 2020-2021 tenure.

New momentum for bilateral cooperation

Sri Lankan Prime Minister Ranil Wickremesinghe's visit to Vietnam is intended to boost bilateral cooperation. His talks with Prime Minister Nguyen Xuan Phuc and other Vietnamese leaders will focus on exploring new opportunities for practical and effective cooperation.