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Sri Lanka, Vietnam boost trade

US$ 100 m target set for two-way trade volume by 2012:

President Mahinda Rajapaksa and Vietnamese President Nguyen agreed to encourage bilateral trade and set the target of US$ 100 million for two-way trade volume by 2012.

President Rajapaksa who was on a State visit to the Socialist Republic of Vietnam from October 22 to 24 also discussed a range of matters of mutual interest which included trade and investment promotion, agriculture, cultural cooperation, air services and defence and transnational crime prevention with President Nguyen.

President Rajapaksa undertook the State visit at the invitation of Vietnamese President Nguyen Minh Triet.

Lanka-Vietnam agreements

At the conclusion of the official talks between the two Presidents, a number of agreements were signed between the two countries. They included:

* Agreement between the Democratic Socialist Republic of Sri Lanka and the Socialist Republic of Vietnam on Protection and Promotion of Investments
* Cooperation Agreement between the Sri Lankan Defence, Public Security, Law and Order Ministry and Vietnam’s Public Security Ministry on Preventing and Combating Crimes;
* Work Plan for 2010-2011 on Agriculture Development Cooperation between the Agricultural Development and Agrarian Services Ministry and VietnamAgriculture and Rural Development Ministry.
* Agreement on the Work plan for 2010-2013 between the Fisheries and Aquatic Resources Ministry and Vietnam’s Agriculture and RuralDevelopment Ministry on the field of Fisheries Cooperation;
* Memorandum of Understanding on Cultural Cooperation between the Cultural Affairs and National Heritage Ministry and Vietnam’s Culture, Sport and Tourism Ministry.

The President was accompanied by Foreign Minister Rohitha Bogollagama, Export Development and International Trade Minister Prof. G. L. Peiris, Enterprise Development and Investment Promotion Minister Anura Priyadarshana Yapa, Western Province Governor Alavi Mowlana and senior officials and a group of business personnel.

President Rajapaksa was accorded an official welcome at the Presidential Palace in Hanoi on October 22. President Nguyen Minh Triet held official discussions and hosted a State Banquet in his honour. President Rajapaksa also met Secretary General Communist Party of Vietnam Nong Duc Manh and Vietnamese Prime Minister Nguyen Tan Dung.

During his stay in Hanoi, President Rajapaksa placed a wreath at the Ho Chi Minh Mausoleum in honour of the leader of Vietnam.

The bilateral discussions were held in an atmosphere of friendship, warmth and close understanding. The Heads of State noted the excellent state of the relations between Vietnam and Sri Lanka. The Vietnamese President congratulated President Rajapaksa on the defeat of the LTTE in Sri Lanka and reaffirmed Vietnam’s support for the sovereignty and territorial integrity of Sri Lanka.

President Nguyen Minh Triet expressed support for President Rajapaksa’s efforts to build a peaceful and prosperous nation. In response President’s request for assistance in clearing mined areas in the Northern province, the Vietnamese side agreed to consider cooperation with Sri Lanka in demining process. President Rajapaksa thanked the President and the Government of Vietnam for their steadfast support to combat the LTTE in Sri Lanka, and in this context, for extending support to Sri Lanka at the UN Security Council and the Human Rights Council.

The two leaders also exchanged views on a number of regional and multilateral issues of mutual concern and agreed to continue to work together for the mutual benefit of the two countries based on the principle of non interference.

President Rajapaksa congratulated Vietnam for her impressive economic development recorded during the renovation process and expressed Sri Lanka’s felicitations for Vietnam’s achievements in foreign affairs, including its successful assumption of the role as a non permanent member of the UN Security Council and its forthcoming ascend to the Chairmanship of ASEAN in 2010.

The President of Vietnam felicitated President Rajapaksa for the important contribution made by Sri Lanka as Chair of the South Asian Association for Regional Cooperation (SAARC), Asia Cooperation Dialogue (ACD) and G-15, and as a member of ASEAN Regional Forum (ARF).

The discussions covered a wide range of matters of mutual interest which included trade and investment promotion, agriculture, cultural cooperation, air services and defence and transnational crime prevention. Both leaders agreed to encourage bilateral trade and set the target of 100 million US$ for two-way trade volume by 2012.

The two leaders welcomed the successful conclusion of the Second Session of the Joint Commission between the two countries which was held in August 2009 in Sri Lanka.

The Joint Commission was recognized as an effective mechanism to further enhance bilateral relations between the two countries in many spheres of cooperation. The Vietnamese President nnounced his country’s decision to reopen a resident Embassy in Colombo.

President Rajapaksa welcomed this announcement and expressed confidence that a resident Vietnamese Mission in Colombo would help to further strengthen the friendship between the two countries in developing a comprehensive partnership with Vietnam. The President and the delegation also visited Ho Chi Minh City, the main commercial centre of Vietnam and were received by Chairman of the People’s Committee of Ho Chi Minh City Le Hoang Quan.

President Rajapaksa inaugurated the Vietnam - Sri Lanka Business Forum which was jointly organized by the Vietnam Chamber of Commerce and Industry and the Foreign Investment Agency of the Ministry of Planning and Investments together with Foreign Ministry and the Board of Investment of Sri Lanka in Ho Chi Minh City. The Business Forum was attended by business leaders of the two countries together with dignitaries of the two Governments.

The Forum acknowledged the increase of the trade volume between the two countries. President Rajapaksa extended an invitation to Vietnamese President Nguyen Minh Triet, to undertake a State visit to Sri Lanka in a convenient time. President Nguyen Minh Triet accepted the invitation. The specific dates for the visit would be discussed through diplomatic channels.

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