Viet Nam and Sri Lanka deepen economic ties

THE Third Meeting of the Viet Nam-Sri Lanka Joint Subcommittee on Trade was recently convened under the Co-Chairmanship of Viet Nam Industry and Trade Deputy Minister Phan Thi Thang and Sri Lanka Trade Secretary K.A. Vimalenthirarajah.

- 

The two sides reviewed and evaluated the implementation of the outcomes agreed upon at the Second Meeting, acknowledging the continuous improvement of bilateral trade turnover which reached $ 278.9 million in 2024 and $ 225.4 million in the first 10 months of 2025. Both sides agreed that the potential for cooperation remains substantial, especially given the complementary nature of the trade structure of the two economies.

Within the framework of the meeting, the two delegations exchanged views on a series of priority cooperation areas, including market access facilitation, textiles and garments, footwear, fisheries, trade promotion, logistics, air connectivity, and investment collaboration in construction and infrastructure development, among others.

On trade facilitation, both sides agreed to enhance technical dialogue on customs standards and non-tariff measures to help businesses reduce compliance costs and improve market access. Regarding rice trade, Viet Nam affirmed its capacity to supply stable and diversified rice varieties to Sri Lanka.

In the textile and footwear sector, Sri Lanka proposed cooperation under the EU's GSP framework on cumulative origin; Viet Nam acknowledged this request and expressed readiness to strengthen cooperation in training, design, product development, and supply chain connectivity. In the field of fisheries, Sri Lanka noted the need for enhanced technical cooperation and increased import of raw materials, while Viet Nam suggested expanding the product list and simplifying quarantine processes.

Both sides agreed to reinforce trade promotion activities, promote linkages between VIETRADE and Sri Lanka's Export Development Board (EDB), implement established action programs, and increase the exchange of business delegations, participation in fairs and exhibitions, and B2B interactions.