Vietnam, Sri Lanka target US$1 billion trade as part of broader investment push
VOV.VN - Both nations have agreed to push for the signing of relevant economic and trade agreements, facilitate market access for key export products, promote supply chain diversification, and strive to raise two-way trade to US$1 billion while expanding mutual investment.

The consensus was reached during talks between President Luong Cuong and his Sri Lankan counterpart Anura Kumara Dissanayaka following a welcome ceremony in Hanoi on May 5
In an atmosphere of openness, sincerity, trust and mutual understanding, President Luong Cuong warmly welcomed Anura Kumara Dissanayaka on his official visit to Vietnam, highlighting the significance of the trip as the two countries mark the 55th anniversary of diplomatic relations.
President Luong Cuong thanked his guest for accepting the invitation to attend and deliver the opening remarks at the United Nations Day of Vesak in Vietnam, and for sending congratulatory messages to Vietnamese leaders on the occasion of the 50th anniversary of national reunification.
He congratulated Sri Lanka on its recent socio-economic achievements under the leadership of the new administration, particularly in post-crisis recovery, maintaining positive economic growth, and improving its national credit rating. He expressed confidence that Sri Lanka would overcome current challenges and successfully realize its future development goals.
The Vietnamese State leader also expressed appreciation for Sri Lanka’s support during Vietnam’s struggle for national independence and its ongoing cooperation in the country’s current development process.

For his part, President Anura Kumara Dissanayaka, showed his elation at visiting Vietnam, his first Southeast Asian destination since taking office, while hailing the country’s remarkable development since reunification. He noted Vietnam’s emergence as one of the fastest-growing economies globally, ranking 32nd in GDP, with increasing influence both regionally and internationally.
He affirmed that the Sri Lankan leadership and people have always held deep affection and respect for Vietnam and President Ho Chi Minh, and admired Vietnam’s indomitable spirit during both wartime and national construction process. He also expressed a desire to learn from Vietnam’s development experience.
The two leaders agreed that their strong political trust, warm friendship, sincere mutual support, and shared vision and positions form a solid foundation for further elevating bilateral ties.
Building on this spirit, they pledged to continue consolidating traditional friendship and mutual understanding, increasing the frequency of high-level and all-level visits, and enhancing cooperation between the two ruling parties, as well as exchanges between friendship organizations and people’s associations of both countries.
They pledged to improve the efficiency of existing cooperation mechanisms, particularly the Joint Committee on Economic, Trade, and Technical Cooperation by reviewing and carrying out specific initiatives, updating and accelerating the signing of cooperation agreements in line with current needs, and exploring the possibility of upgrading bilateral ties when appropriate conditions and consensus are met.
The two sides also agreed to deepen practical cooperation in defence, security and justice, encouraging more exchanges, training co-operation and capacity-building. They vowed to work together in tackling transnational and cybercrime, law enforcement, and the negotiation of cooperation agreements in these areas.
Recognizing the great potential for economic, trade and investment cooperation, both sides stressed the need for breakthrough measures to fully capitalize on these opportunities.
President Dissanayaka affirmed his nation’s readiness to support Vietnamese investment in strategic fiels such as infrastructure, telecommunications, education, healthcare, high-tech agriculture, agro-processing, food, retail, logistics and tourism.
The two countries also committed to expanding cooperation in key areas including agriculture, food security, science and technology, education, culture, religion, healthcare, tourism and people-to-people exchanges. They concurred to increase experience sharing in maritime economic development, shipping and port connectivity, and encouraged their airlines to consider opening direct flights.
President Dissanayaka pledged continued support for the Vietnamese community living, studying and doing business in Sri Lanka, including Vietnamese monks and nuns pursuing Buddhist studies, and welcomed the operation of Vietnamese pagodas, monasteries and religious institutions in Sri Lanka.

Amid global and regional complexities, the two leaders reaffirmed the importance of maintaining close coordination and mutual support at international and regional forums, especially the United Nations, the Non-Aligned Movement, and South-South Cooperation, as well as on issues of shared interest.
They reiterated the importance of safeguarding peace, stability, security and freedom of navigation, and laid stress on the need to uphold international law, especially the 1982 United Nations Convention on the Law of the Sea (UNCLOS). President Luong Cuong welcomed Sri Lanka’s desire to strengthen ties and substantive cooperation with Southeast Asian countries and ASEAN.
On this occasion, President Anura Kumara Dissanayaka extended a cordial invitation to President Luong Cuong to pay an official visit to Sri Lanka in the near future, which was gladly accepted.
Following their talks, the two leaders witnessed the signing of five cooperation documents covering diplomacy, trade, customs, agriculture and machinery manufacturing.
President Anura Kumara Dissanayaka is paying a state visit to Viet Nam and attending the United Nations Day of Vesak celebrations from May 4 to 6.