Viet Nam opens trade centre in Colombo

Friday, Aug 08, 2014 08:00

Sri Lanka's capital Colombo. — Photo

COLOMBO (Biz Hub) — The Viet Nam trade centre was officially opened in Sri Lanka's capital Colombo on Wednesday, to intensify investment, trade and tourism co-operation between the two countries.

Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka, said the establishment of the centre meets the demand from business circles of the two countries.

He expressed the hope that it will contribute strongly to bilateral partnerships in trade, investment and tourism.

Over the past three years, two-way trade has surged by 30 per cent – the fastest pace Viet Nam has recorded with a South Asian country.

The figure hit US$109 million in the first half of this year, equivalent to the whole 2011 figures. In particular, Sri Lanka's exports to Viet Nam reached $43 million, higher than the value in 2013.

Vietnamese Ambassador to Sri Lanka Ton Sinh Thanh stressed that there was much room for trading activities between both countries once barriers like high taxes, fees and cumbersome procedures were cleared.— VNS

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