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The 02nd Meeting of the Sub-Committee on Trade between Sri Lanka and Viet Nam, hosted by theMinistry of Industry and Trade of the Socialist Republic of Viet Nam, was held in Ha Noi, Viet Nam on 03, 04 of October 2019.

Discussions were held on several areas for cooperation agreed upon by the two sides included signing the Agreement between the two Governments on Cooperation and Mutual Assistance in Customs, extending the implementation of cooperation plans in the agricultural sector for the period of 2020-2022, implementation plan for the period of 2020-2022 of the MOU on bilateral cooperation in fisheries, strengthening cooperation in the field of textile and garment and manufacturing industrial machineries, reviewing and fully implementing the existing Agreements on Aviation Cooperation and Investment Promotion and Protection.

The two sides discussed specific measures that could be taken to remove difficulties and obstacles in trade, investment and business cooperation.

Sri Lanka and Viet Nam agreed to expand cooperation in a number of other areas such as health and tourism, and promote direct flights between the two countries to support trade and tourism development. The two sides also agreed to hold the meeting of Sub Committee on Trade once every two years.

The two countries decided to organize a series of promotional events in 2020 to commemorate the 50th anniversary of the formal Diplomatic Relations between Sri Lanka and Viet Nam. Sri Lanka invited a high-level Vietnamese trade delegation to visit Sri Lanka.

The seventeen member Viet Nam delegation was headed by Deputy Minister, Ministry of Industry and Trade of Socialist Republic of Viet Nam Cao Quoc Hung and assisted by Director General Asia-Africa Market Department, Le Hoang Oanh, Deputy Director General Asia-Africa Market Department of the Ministry of Industry and Trade Do Quoc Hung, and other officials from related government agencies and Viet Nam Chamber of Commerce and Industry (VCCI).

Sri Lanka side was headed by Secretary to the State Ministry of Industry and Commerce of Sri Lanka Madhawa Dewasurendra and assisted by Ambassador-designate of Sri Lanka to Viet Nam Prasanna Gamage, Acting Direct General/Economic Affairs of the Ministry of Foreign Affairs M.H.M.N. Bandara, Deputy Director of Commerce M.S. Mahadiulwewa, Deputy Director of the Ministry of Agriculture P.N.N Jayanetti, Executive Director of the Board of Investment of Sri Lanka M.R Weerakone, Assistant Director of Commerce S. Jayarathna and Third Secretary (Commercial) of the Embassy of Sri Lanka in Viet Nam P. Boomawalage.

Embassy of Sri Lanka

Ha Noi

 

04 October 2019

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H.E. Cao Quoc Hung, Deputy Minister of the Ministry of Industry and Trade of the Socialist Republic of Viet Nam delivering his remarks.

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Mr. Madhawa Dewasurendra, Secretary to the State Ministry of Industry and Commerce of the Democratic Socialist Republic of Sri Lanka delivering his remarks.

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H.E. Cao Quoc Hung and Mr. Madhawa Dewasurendra, exchanging the signed agreed minutes the Meeting.

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The Sri Lanka and Australia Chamber of Commerce (SLACC) together with Consulate General of Sri Lanka in Sydney and Gilbert and Tobin Lawyers organised a Business Networking Event to explore business and investment opportunities in Sri Lanka on Tuesday 1st October 2019 in Sydney CBD.

Welcoming the guests, the President of Sri Lanka-Australia Chamber of Commerce, Kalum de Silva emphasised that major objective of this programme was to disseminate information on Sri Lanka’s business potentials among the Australian entrepreneurs.

Sri Lanka High Commissioner in Canberra J.C. Weliamuna, in his first meeting with the business community after assuming duties in Australia, remarked the importance of trade and economic collaborations between Sri Lanka and Australia. He said more opportunities are open for Australian businessman to explore the Sri Lankan market and also to expand into the regions, as well as the global destinations.

Partner of Gilbert and Tobin Lawyers, Danny Tobin mentioned that he and his team were glad to facilitate business proposals between the two countries. Consul Commercial Abdul Raheem made a comprehensive presentation on Trade and Investment opportunities in Sri Lanka for Australian businessmen who are looking at Sri Lanka as an investment destination. Peter Harris, Chief Business Development Officer of University of Technology Sydney (UTS) spoke about their Sri Lankan experience in establishing a UTS branch in Colombo for higher education in technical studies.

Consul General Lal Wickrematunge, in his closing remarks, invited the Australian business community to visit Sri Lanka and explore trading opportunities beyond Sri Lankan market as numbers of Free Trade Agreements are in place and Sri Lanka is also currently having discussions with a number of trading partners to conclude Free Trade and enhanced Economic Cooperation Agreements.

Sri Lanka and Australia enjoy cordial trade and economic relations for decades and two-way trade was USD 351/- million in 2018 registering the balance of trade of USD 35 million in favour of Sri Lanka. Australia and Sri Lanka signed the Trade and Investment Framework Agreement (TIFA) in 2017 and two rounds of senior officials’ meetings were held in Australia and Sri Lanka in 2018 and 2019, respectively.

 

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Consulate General of Sri Lanka

Sydney

02/10/2019

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