Sri Lanka and Vietnam forge stronger ties with landmark agreements

Tuesday, 6 May 2025 02:37 - - {{hitsCtrl.values.hits}}

Ink four MoUs—Machinery and Equipment Manufacturing Cooperation, Agricultural Cooperation, Diplomatic Training Collaboration and Trade Promotion Partnership, as well as one bilateral agreement on Customs Cooperation and Mutual Support

Marking a new chapter in bilateral relations, Sri Lanka and Vietnam yesterday solidified their partnership with the signing of four Memoranda of Understanding (MoUs) and one key agreement, witnessed by President Anura Kumara Disanayake and Vietnamese President Luong Cuong during an official ceremony.

President invites Vietnam’s Vingroup for investments in Sri Lanka

The signing took place following bilateral discussions held at the Presidential Palace in Hanoi earlier this morning.

Among the agreements signed was a bilateral pact on enhancing cooperation and mutual support in Customs Affairs between the Democratic Socialist Republic of Sri Lanka and the Socialist Republic of Vietnam.

Additionally, an MoU between the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Entrepreneurship Development of Sri Lanka on Cooperation in Machinery and Equipment Manufacturing, an MoU between the Vietnam Academy of Agricultural Sciences and the Department of Agriculture of Sri Lanka on Cooperation in Agriculture, as well as an MoU between the Bandaranaike International Diplomatic Training Institute (BIDTI) of Sri Lanka and the Diplomatic Academy of Vietnam and an MoU between the Vietnam Trade Promotion Agency and the Sri Lanka Export Development Board (EDB) on Trade Promotion Cooperation were signed.

These agreements aim to facilitate knowledge sharing and the exchange of diplomats, experts, officials, scholars, and researchers, while also encouraging the organisation and participation in academic and research programs, training initiatives, and conferences related to diplomacy.

They also provide a platform for a broad range of trade promotion activities, including the exchange of trade and market intelligence, joint participation in trade fairs and exhibitions in both countries, and the organisation of business networking events for private sector representatives.

It is expected that this enhanced cooperation will unlock significant market opportunities for both countries, particularly in the sectors of value-added agriculture, fisheries, apparel, and processed food.

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