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Politics
President Anura Kumara Dissanayake

Sri Lanka and Vietnam Target USD 1 Billion Trade by 2030

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President Anura Kumara Dissanayake announced today (08) that Sri Lanka and Vietnam have agreed to expand their annual bilateral trade to USD 1 billion by the year 2030.

The announcement was made following bilateral discussions between President Dissanayake and visiting Vietnamese President and General Secretary of the Communist Party of Vietnam, Tô Lâm.

President Dissanayake extended an invitation to Vietnamese investors to explore new opportunities in Sri Lanka, particularly in renewable energy, logistics, infrastructure development, tourism, and manufacturing sectors.

He also confirmed that Vietnam has agreed to provide 100 metric tonnes of urea and superphosphate fertilizer to support the development of Sri Lanka’s agriculture sector.

The President further announced that direct air services between Colombo and Ho Chi Minh City / Hanoi will be launched later this year, aimed at strengthening connectivity between the two countries.

Speaking at a joint press briefing, President Dissanayake said Sri Lanka and Vietnam had also signed five Memoranda of Understanding covering cooperation in information and communication technology, culture, religion, science and technology.

The agreements are expected to further enhance bilateral relations and deepen cooperation across multiple strategic sectors.

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