When the Vietnamese President Troung Tan Sang visited Sri Lanka in October last year, the two countries agreed to expand bilateral trade up to the one billion US dollars within three years. Reports from Hanoi said that the two Ministers focused attention on increasing connectivity, removal of non-tariff barriers, movement towards a Preferential Trade Agreement and several other issues.
Following on the State Visit by President Mahinda Rajapaksa to Viet Nam in October 2009, the President of Viet Nam, on his reciprocal visit to Sri Lanka, was accompanied by thirty business leaders. At the Joint Commission a new bilateral Air Services Agreement was also signed.
The Ministers who met in Hanoi have expressed confidence that this agreement would serve as a catalyst in promoting tourism and interaction among people. The two sides have agreed on steps for rapid implementation of the memorandum signed last year on co-operation in the petroleum sector.
Viet Nam has agreed to provide substantial support to Sri Lanka in the agriculture and fisheries sector. Priority will be given to technology transfer in inland fisheries, aquaculture, ornamental fish breeding and production of high yielding plant material. Other fields of collaboration included military training for officer cadets and training courses for officers for mid-career development.
