Monday, May 5, 2025
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Sri Lanka and Vietnam chart ambitious course for deeper economic and technological ties

May 05, Colombo (LNW): President Anura Kumara Dissanayake was formally welcomed in Hanoi this morning during a ceremonial reception hosted by Vietnamese President Luong Cuong at the Presidential Palace.

The event, which featured full military honours and the playing of both nations’ anthems, marked the beginning of a high-level state visit intended to strengthen diplomatic and economic ties between the two countries.

As part of the welcoming protocol, the two heads of state reviewed the guard of honour provided by the Vietnam People’s Army and were introduced to each other’s official delegations.

This visit marks President Dissanayake’s first official trip to Vietnam since assuming office in November 2024 and is seen as a pivotal moment in Sri Lanka’s broader strategy to reaffirm alliances in the Asia-Pacific region.

Following the ceremonial proceedings, the two delegations entered into substantive discussions, focusing on evaluating the progress of their bilateral relationship and charting a course for deepened cooperation. Particular emphasis was placed on trade, regional stability, and collaborative opportunities in emerging sectors such as technology, energy, and digital infrastructure.

Agreements aimed at enhancing mutual collaboration in these areas are expected to be signed during the visit, with both presidents set to oversee the official proceedings and address the media jointly thereafter. The visit also coincides with celebrations for the United Nations Day of Vesak, reflecting the spiritual and cultural bonds shared by the two Buddhist-majority nations.

Vietnam and Sri Lanka have enjoyed a steady partnership since the establishment of diplomatic ties in 1970. Over the years, the relationship has been characterised by mutual goodwill, economic cooperation, and strategic dialogue.

Sri Lanka has praised Vietnam’s economic trajectory and its success in integrating into the global economy, viewing it as a potential blueprint for its own development efforts.

Trade between the two countries currently hovers around USD 200 million annually, dominated by Vietnamese exports. However, both governments have expressed their ambition to significantly increase this figure, setting an aspirational target of US$ 1 billion in bilateral trade in the coming years. This ambition is underpinned by shared goals in sustainable development, market liberalisation, and digital transformation.

The Sri Lankan President’s office issued a statement noting that the visit symbolises not just a reaffirmation of long-standing ties but also an effort to explore new and dynamic areas of cooperation. These include artificial intelligence, green energy, technological innovation, and connectivity infrastructure—all areas where Vietnam has made significant strides and Sri Lanka is keen to engage.

This year marks the 55th anniversary of diplomatic relations between the two countries, a milestone that adds symbolic resonance to President Dissanayake’s trip. Both nations appear poised to transform their historical friendship into a more results-oriented partnership with tangible benefits across multiple sectors. The visit is expected to lay the groundwork for a more collaborative future rooted in trust, shared values, and complementary national goals.

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