Vietnam and Sri Lanka have enjoyed traditional friendship and multi-faceted cooperation since the two countries established diplomatic relations in 1970. In recent years, the two sides have increased exchange of high-ranking visits. Sri Lankan leaders, especially those who supported Vietnam during the resistance war against the American aggressors, have reserved good sentiments and respect for Vietnam and President Ho Chi Minh. Sri Lankan has three friendship associations that support Vietnam, namely the Sri Lanka-Vietnam Solidarity Association, established in 1966; the Parliamentary Friendship Association of Sri Lanka-Vietnam, established in 2011; and the Sri Lanka-Vietnam Friendship Foundation, established by the Sri Lankan Marxist JVP. In Vietnam, the Parliamentary Friendship Group with Sri Lanka was established in early 2012 and the Vietnam-Sri Lanka Friendship Association was established in July 2014.
Sri Lankan Prime Minister Ranil Wickremesinghe (Source: www.radionz.co.nz)
So far, the two countries have established a bilateral cooperation mechanism. In 2003, the mechanism of the Vietnam-Sri Lanka Joint Committee on Economic, Scientific, and Technical Cooperation was established (at the foreign ministerial level) and the committee has organized three meetings since then. The political consultation mechanism between the two countries was established in October 2011. Its first meeting was held in Colombo, Sri Lanka in May 2012 and the second one was held in Hanoi in May 2013.
The Sri Lankan Prime Minister’s Vietnam visit this time aims at encouraging bilateral cooperation in fields of Sri Lanka’s interests, such as trade, investment, telecommunications, aquaculture and seafood processing, machinery manufacturing and construction materials. Trade between the two countries kept increasing significantly, reaching USD 192 million in 2015 and USD 325.6 million in 2016. The two sides established a joint trade sub-committee (under the Vietnam-Sri Lanka Joint Committee on Economic, Scientific and Technical Cooperation) in August 2014 to boost bilateral trade. The two sides also agreed to speed up negotiations and the signing of the Preferential Trade Agreement.
In terms of investment, in October 2011, the Vietnamese Ministry of Planning and Investment’s Foreign Investment Department and the Sri Lankan Board of Investment signed a cooperation minute, identifying Sri Lankan key promotional factors in Vietnam, including: textile, rubber, electrical - electronic products, agricultural products and food processing, gem stones and jewelry manufacturing. Meanwhile, Vietnam’s investment priorities in Sri Lanka include telecommunications, agricultural machinery, farming and aqua-product processing, oil and gas exploration and exploitation, plastic products; construction products, etc. By the end of 2016, Sri Lanka had run 15 investment projects capitalized at USD 83.77 million in Vietnam, ranking 48th among foreign investors. Linea Aqua Vietnam is one among the projects with the total investment of USD 8.73 million.
The two countries have also exchanged visits of defense delegations and organized meetings at deputy defense ministerial level.
Moreover, the two sides have also enjoyed effective cooperation on agriculture and aquaculture. Vietnam implemented a project to provide technical assistance to Sri Lanka’s aquaculture development in 2014.
With its experience in international justice and law, Sri Lanka is willing to support Vietnam in this field, especially in the application of the 1982 United National Convention on the Law of the Sea, international economic arbitration and back Vietnam to join the Asian-African Legal Consultative Organization.
The two sides support each other well at regional and international forums. Sri Lanka recognized Vietnam’s market economy; supported Vietnam to be a member of the UN Human Rights Council (2014 – 2016); committed to support Vietnam to be a member of the UN Security Council (2020-2021) and the UN Economic and Social Council (2016-2018).
The official visit to Vietnam of Sri Lankan Prime Minister Ranil Wickremesinghe and his spouse this time is to boost cooperation in terms of trade, investment, telecommunications, agriculture etc.
Vietnam strongly believes that the visit will contribute remarkably to the traditional friendship and multi-faceted cooperation between Vietnam and Sri Lanka, and create a new momentum for development for the interests of the people of the two countries.
Translated by Ngoc Hung