Research is being conducted on opening a direct flight route between Colombo (Sri Lanka) and Hanoi.

(Chinhphu.vn) - Both sides agreed to study the possibility of opening a direct flight route between Colombo and Hanoi/Ho Chi Minh City to promote trade, investment and tourism in the coming period.

Deputy Minister Phan Thi Thang and Deputy Minister KA Vimalenthirarajah signed the minutes, serving as a basis for implementing cooperation contents in the coming time - Photo: MOIT

According to information from the Ministry of Industry and Trade , on December 9th, in Colombo (Sri Lanka), the third meeting of the Vietnam-Sri Lanka Joint Trade Subcommittee took place, co-chaired by Deputy Minister of Industry and Trade Phan Thi Thang and Deputy Minister of Commerce, Food Security and Development Cooperation of Sri Lanka KA Vimalenthirarajah.

Speaking at the meeting, Deputy Minister Phan Thi Thang emphasized the positive progress in Vietnam-Sri Lanka trade relations in recent times. Both sides reviewed and assessed the implementation of the agreements reached at the second meeting, and acknowledged the continuous improvement in bilateral trade turnover. Both sides agreed that there is still significant potential and need for cooperation, especially given the highly complementary nature of the two economies ' trade structures.

Within the framework of the meeting, the two sides had in-depth discussions on a series of priority areas of cooperation.

Regarding trade facilitation, the two sides agreed to enhance technical dialogue on customs, standards and non-tariff measures, helping businesses of the two countries reduce compliance costs and improve market access.

Regarding rice trade cooperation, Vietnam affirmed its capacity to supply stable and diversified rice varieties and proposed considering the possibility of building a Memorandum of Understanding on rice trade cooperation to contribute to ensuring food security.

In the textile and footwear sector, Sri Lanka proposed cooperation within the EU's GSP framework on cumulative origin; Vietnam acknowledged and is ready to strengthen cooperation in training, design, product development and supply chain connectivity.

In the fisheries sector, Sri Lanka expressed a need for increased technical cooperation and import of raw materials for exploitation; Vietnam proposed that Sri Lanka expand the product range and simplify quarantine procedures.

Both sides highly appreciated the strategic position of each country in the global supply chain and agreed to consider organizing a Vietnam-Sri Lanka Logistics Business Forum in the near future. They also agreed to study the possibility of opening a direct flight route between Colombo and Hanoi/Ho Chi Minh City to promote trade, investment, and tourism .

Sri Lanka expressed its desire to attract Vietnamese enterprises to invest in the fields of infrastructure, energy, ICT, electrical and electronic industry, agricultural processing, logistics and supporting industries. The two sides also discussed cooperation in 3D printing technology, quality control, software - digital transformation, Ayurveda medicine and shipbuilding - ship repair.

At the end of the meeting, Deputy Minister Phan Thi Thang and Deputy Minister KA Vimalenthirarajah signed the Minutes, which will serve as a basis for implementing cooperation contents in the coming time. The two sides agreed to hold the fourth meeting in Hanoi, the specific time will be discussed through diplomatic channels.

The third meeting of the Vietnam-Sri Lanka Joint Trade Subcommittee is considered a significant step forward, creating new momentum for economic and trade relations between the two countries in the next phase of cooperation. Both sides will closely coordinate to effectively implement the agreed contents, support businesses in both countries to connect more deeply into regional and global supply chains, aiming to increase bilateral trade turnover to US$1 billion.

Vietnam ranks 48th among Sri Lanka's export destinations and 17th among its import destinations. In 2024, exports from Sri Lanka to Vietnam reached US$40.09 million, a 10% increase compared to 2023; imports from Vietnam to Sri Lanka reached US$238.81 million, a 27% increase compared to 2023.

Vietnam's imported goods from Sri Lanka include knitted fabrics; yarn; animal feed; rubber; textiles; tea packages...

Vietnam exports to Sri Lanka yarn; knitted fabric; base metal; woven fabric; telephones, electronic equipment and components; rubber.

Anh Tho

Source: https://baochinhphu.vn/nghien-cuu-mo-duong-bay-thang-colombo-sri-lanka-ha-noi-102251210081601159.htm