Politics

Vietnam, Sri Lanka foster economic cooperation

The Vietnam Institute of Indian and Southwest Asian Studies at the Vietnam Academy of Social Sciences (VASS) held a virtual workshop entitled “50 years of Vietnam-Sri Lanka Diplomatic Ties: Achievements and Prospects” on September 22.

Hanoi (VNA) - The Vietnam Institute of Indian and Southwest AsianStudies at the Vietnam Academy of Social Sciences (VASS) held a virtualworkshop entitled “50 years of Vietnam-Sri Lanka Diplomatic Ties: Achievementsand Prospects” on September 22.

VASS Vice President Professor Dang Nguyen Anh said that celebrations ofthe 50th anniversary is a chance for both sides to look back at achievementsand strive for closer cooperation.

He suggested expanding trade and investment activities and settingspecific targets for two-way trade and the timeframe for achieving these targets,while boosting the trade balance by increasing Sri Lanka’s imports fromVietnam.

The two sides should encourage Sri Lankan businesses, including smalland medium-sized enterprises (SMEs), to invest in infrastructure, hightechnology, and renewable technology in Vietnam, while focusing ontechnological transfer and developing supporting industries to create opportunitiesfor their enterprises to participate in global production and supply chains, headded.

Jayanath Colombage, Secretary of the Sri Lankan Ministry of ForeignAffairs, stressed that Sri Lanka and Vietnam should be a “guiding light” for eachother.

The time-honoured relationship will contribute to spotlighting the twocountries’ roles in the region as well as on the international arena.

Sri Lanka will act as a bridge for Vietnam’s cooperation with importantpartners in the Indian Ocean, Colombage said, adding that bilateral relationswill help Sri Lanka connect with countries in Southeast Asia.

Delegates also discussed plans to boost trade and investment cooperation./.

VNA
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