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* Sri Lanka Prime Minister to visit Vietnam following Japan tour
Fri, Apr 14, 2017, 07:53 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 14, Hanoi: Sri Lanka's Prime Minister Ranil Wickremesinghe and his spouse will pay an official visit to Vietnam from April 16-19 at the invitation of Prime Minister Nguyen Xuan Phuc.

During the visit Sri Lankan Premier will discuss international and regional issues of mutual concern with his Vietnamese counterpart, the official Vietnam News Agency said.

Prime Minister Wickremesinghe is currently on an official visit to Japan from April 10-16 at the invitation of Japanese Prime Minister Shinzo Abe.

The visit is aimed at enhancing cooperative fields of Sri Lanka's interest, including trade, investment, telecommunications, fish farming, machinery manufacturing, and the production of building materials.

Prime Minister Phuc during his meeting with Premier Wickremesinghe at the annual World Economic Forum in Davos, Switzerland in January expressed his country's interest in strengthening and expanding of bilateral trade, as well as economic and social ties between Vietnam and Sri Lanka. The Vietnamese Premier also indicated that he looked forward towards signing several MOUs during Prime Minister Wickremesinghe's state visit to Vietnam.

Vietnam and Sri Lanka since establishing diplomatic ties in 1970, have developed a sound friendship and multi-dimensional cooperation through the exchange of high-level visits and the establishment of friendship associations and bilateral cooperation mechanisms.

In recent years, trade between the two countries has grown significantly, reaching 192 million USD in 2015 and 325.6 million USD in 2016.

The two sides established a sub-committee on joint trade within the framework of their joint committee in August, 2014, and agreed on the early negotiation and signing of a preferential trade agreement, with the aim of accelerating commercial activities.

The countries have identified investment promotion areas, with Vietnam's garment and textile, rubber, electricity-electronics, farm produce processing, foodstuff, and gem stone and jewelry making and Sri Lanka's telecommunications, agriculture machinery manufacturing, aquaculture, oil and gas production, and plastics and construction materials making.

By the end of 2016, Sri Lanka had 15 operating investment projects capitalized at 83.77 million USD in Vietnam, ranking 48th among foreign investors.

The countries have enjoyed productive collaboration in agriculture and fisheries with Vietnam helping Sri Lanka with techniques, personnel training and plan design in aquaculture. Sri Lanka has favored Vietnam in oil and gas production.

Sri Lanka has a rich pool of experience in judicial matters and international law and is willing to assist Vietnam, especially in the application of the 1982 Convention on the Law of the Sea. The countries signed agreements on education and justice cooperation.

The two countries have coordinated efficiently at regional and international forums. Sri Lanka has recognized Vietnam as a full market economy and affirmed support for Vietnam's candidacy for a seat in the UN Security Council (2020-2021) and the UN Economic and Social Council (2016-2018).

 


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