NCCSL delegation meets Vietnam President

A seventeen-member business delegation from the National Chamber of Commerce of Sri Lanka (NCCSL) led by Asoka Hettigoda, President of the Chamber, met Truong Tan Sang, President of Vietnam at the Presidential Palace during their visit to Vietnam from November 13-18.

The NCCSL delegation with Vietnam President Truong Tan Sang

Hettigoda told President Truong Tan Sang, the current economic conditions, improved business and investment climate Sri Lanka enjoys at present. The Vietnam President appraised the Sri Lankan delegates about the high potential both countries had for bilateral trade, development and investment.

Asoka Hettigoda, said that Sri Lanka exports products such as woven fabrics, residues of milling industry, crepe rubber, oil seed, tea packets and tea bags, to Vietnam while Sri Lanka imports processed food, agricultural products, reception apparatus for televisions, agricultural machinery, cotton, marbles and man-made staple fibres, from Vietnam. The present trade volume between Sri Lanka and Vietnam ranges from USD 80-100 million. It is expected to improve business areas and expand into other areas as well.

Hettigoda said the NCCSL will work very hard to achieve the USD 1 b target set by the President of Sri Lanka and Vietnam when the Vietnam President visited Sri Lanka a few weeks ago.

Members of the Sri Lankan delegation were keen in exploring business and investment opportunities in Vietnam in the areas of apparel and textile, electrical cables, gem and jewellery, agricultural machinery, rubber and related products, animal feed and agro products.

Both parties were interested in developing a strong relationship with regard to exchanging agricultural technology for mutual benefit. Other areas of interest were minerals and chemicals, non asbestos roofing products and medical related equipment. Representatives from the Sri Lanka Export Development Board explained to the Vietnam business community about "Expo 2012", a major exhibition of Sri Lankan products to the world. Many Vietnamese businessmen assured of their participation at Sri Lanka "Expo 2012".

Apart from the meeting with the President of Vietnam, the delegates also had detailed discussions with senior officials of the Vietnam Chamber of Commerce and Industry (VCCI), Foreign Investment Agency (FIA), Ministry of Trade and Investment and Vietnam Small Medium Industries Association.