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Nation targets $1 billion in trade with Sri Lanka

Update: July, 18/2012 - 09:49

HA NOI — Viet Nam and Sri Lanka have agreed to boost two-way trade to US$1 billion by 2015.

The target was set during a meeting between Vietnamese Foreign Minister Pham Binh Minh and his Sri Lankan counterpart Professor Gamini Lakshman Peiris, in Ha Noi on July 17. Peiris is paying an official three-day visit to Viet Nam from Monday at the invitation of FM Minh.

The foreign ministers agreed to accelerate the implementation of agreements signed by the two sides, especially those reached during the visit to Sri Lanka by President Truong Tan Sang in October 2011, and further enhance co-operation in politics, security, national defence, economics, trade, investment, culture and education.

The two sides will soon study the feasibility of the signing of the Preferential Trade Agreement and maintain their close co-ordination at regional and international forums.

Sri Lanka committed to support Viet Nam to run for the Human Rights Council for the 2014-2016 term and join the Asian-African Legal Consultative Organisation in Nigeria in 2013.

Both held that principles to ensure marine security and freedom and peaceful solutions for disputes at sea must be based on international law.

The two diplomats noted the active development in relations between the two countries, with two-way trade in 2011 hitting $100 million, exceeding the target for this year.

They briefed each other on their country's situation and discussed orientations and measures to boost relations.

Minh described the visit as an important milestone that contributed to further fostering of the traditional friendship and multi-faceted co-operation between the two countries.

Peiris said he was impressed by Viet Nam's achievements in renewal and economic development and believed the country would reap greater achievements. — VNS

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