NCCSL to promote trade between Lanka and Vietnam

The National Chamber of Commerce of Sri Lanka (NCCSL) together with the Sri Lankan Embassy in Vietnam will send a Sri Lankan business delegation to Ho Chi Minh and Hanoi cities of Vietnam concurrent to the Vietnam Expo 2008 in April.

The trade delegation would leave for Vietnam during the first week of April. The Sri Lanka Embassy in Vietnam will assist the National Chamber with regard to all the logistics for the visit.

The delegation would establish new trade links with their counterparts in Vietnam for export, imports and joint ventures. In addition to participating in the Vietnam Expo 2008, arrangements have been made for the delegation to meet heads of trade related Government Organisations and members of Trade Chambers in Vietnam. Site seeing too has been arranged. The delegation will be led by the president of the National Chamber of Commerce of Sri Lanka, D. Essuwaren.

Vietnam has become a fast developing economy in Asia- parallel with the other newly emerging countries in the South and East Asian region. Increased development activities, specially trade and industrial activities and the contribution they receive from developed countries have made Vietnam emerge as a fast developing economy in the recent past.

Foreign direct investment to Vietnam during the past year has touched 40 Billion US Dollars with about four million tourists' arrivals.

Stable political and social environment, newly initiated development programs, expertise from the developed countries and the determination of the Vietnamese people are some of the major factors behind its recent achievements. Vietnam's recent accession to the World Trade Organisation (WTO) provides many opportunities for Sri Lankan businessmen to enter the Vietnam market with reduced tariff.

This will be further strengthened by the growing purchasing power of Vietnamese people, said A. L. Ratnapala, Sri Lanka's Ambassador to Vietnam when he visited the National Chamber of Commerce recently.

According to the Ambassador, bilateral trade could be focused on agricultural and industrial machinery, tea, food and beverage, herbal cosmetic and drinks, electronic items, textile and fashion items, cosmetics, automobile accessories, shoes and leather products, handicraft gift items, pharmaceuticals, medical equipment, gem and jewellery, confectionery, chocolates and rubber products.