Sri Lanka, Vietnam Target $1 Billion Trade as Ties Reach Historic Turning Point

COLOMBO (News 1st); President Anura Kumara Dissanayake has described Vietnam as more than just another nation on the world political map, characterising it as a symbol of unwavering pride in the struggle against imperialism and a living example of economic transformation.

President Dissanayake said he was pleased that Sri Lanka was chosen as the first destination in South Asia for a State visit following President Tô Lâm’s assumption of office. He noted that the visit marked a historic milestone in diplomatic relations between the two countries and was viewed by both sides as a timely opportunity to further strengthen economic cooperation.

President Dissanayake said Sri Lanka and Vietnam have set a target of increasing bilateral trade to one billion US dollars by 2030. He expressed gratitude to President Tô Lâm for including a Vietnamese business delegation comprising 50 representatives in the visit, saying it reflected strong confidence in Sri Lanka’s investment climate and strategic potential.

He invited Vietnamese entrepreneurs to explore investment and business opportunities in Sri Lanka’s priority sectors, including renewable energy, logistics, infrastructure development, tourism, and manufacturing.

The President also welcomed the decision by Vietnam Airlines and VietJet Air to commence flights this year between Colombo and the Vietnamese cities of Ho Chi Minh City and Hanoi. He said he was confident the air links would not only boost tourism but also strengthen trade, investment, and people-to-people ties between the two countries.

President Dissanayake further noted that the Government of Vietnam had donated 1,000 metric tonnes of urea and super phosphate fertilizer to Sri Lanka, for which he expressed Sri Lanka’s gratitude to the Vietnamese people. He also welcomed the positive response of the Vietnamese Government to Sri Lanka’s request to obtain fertilizer from Vietnam.

Dissanayake said Sri Lanka and Vietnam would work together to transform cooperation in technological, security, and economic sectors into practical programmes, with the aim of building a dignified future for both nations.