Freshened-Up Dispatch:
Sri Lankan Presidents propose a $1 billion trade expansion and deeper ties, focusing notably on agriculture and religion sectors.
In a historic moment, Vietnam and Sri Lanka sealed an agreement on cooperation and mutual assistance in the realm of customs on the 5th of May. This significant event was overseen by the States' Presidents, Luơơng Cường and Anura Kumara Dissanayaka, respectively.
The exchange took place in Hà Nội, coinciding with President Dissanayaka's state visit and attendance at the United Nations Day of Vesak, happening from the 4th to the 6th of May.
The atmosphere during their discussions was open, sincere, trusting, and deeply understanding. President Cường warmly welcomed his Sri Lankan counterpart, expressing the significance of the visit and the joy of celebrating 55 years of diplomatic relations.
Numerous accolades were exchanged, with President Cường applauding Sri Lanka's economic improvements since its new administration took office, particularly its recovery from the crisis, maintaining a positive growth rate, and enhancing its national credit rating. In response, President Cường appreciated Sri Lanka's past support for Vietnam's independence struggles and ongoing collaborations during Vietnam's current construction endeavors.
State President Lương Cường and Sri Lankan President Anura Kumara Dissanayaka witness the signing of an agreement between the two governments on cooperation and mutual assistance in the field of customs on Monday. - VNA/VNS Photo Lâm Khánh
President Dissanayaka, delighted to be visiting Vietnam, the first Southeast Asian country he visited as President, expressed his admiration for Vietnam's impressive development since liberating the South and reunifying the country. He lauded Vietnam's meteoric rise to one of the world's fastest-growing economies, with a GDP ranking of 32nd globally.
The future of bilateral relations was addressed, with both parties agreeing that high political trust, solid friendship, mutual support, and shared visions form the foundation for further development. As a result, they agreed to maintain and strengthen traditional friendship, intensify mutual understanding, and boost cooperation between ruling parties, people's organizations, and friendship associations.
In terms of economic cooperation, both parties recognized the significant potential for growth and emphasized the need for breakthrough measures to fully tap this potential. Key areas of focus include agriculture, food security, science and technology, education, culture, healthcare, tourism, and people-to-people exchanges.
A remarkable aspect of these agreements is the four Memoranda of Understanding (MoUs) and one bilateral Agreement signed across the sectors of diplomacy, trade, customs, agriculture, and machinery manufacturing. These agreements aim to foster cooperation, knowledge sharing, and mutual benefit.
State President Lương Cường and Sri Lankan President Anura Kumara Dissanayaka at their talks in Hà Nội on May 5. - VNA/VNS Photo Lâm Khánh
Specifically:
- The Customs Cooperation Agreement seeks to improve mutual support and streamline customs procedures between Vietnam and Sri Lanka, making trade more efficient.
- The Machinery and Equipment Manufacturing MoU aims to promote collaboration and cooperation in the manufacturing industry.
- The Agricultural Cooperation MoU focuses on enhancing agricultural research and innovation through collaboration.
- The Diplomatic Training MoU encourages academic exchange and diplomatic training.
- The Trade Promotion MoU is aimed at boosting bilateral trade and cooperation in trade promotion activities.
These agreements form part of a broader effort to strengthen ties between Vietnam and Sri Lanka, particularly in sectors that offer considerable growth opportunities, such as value-added agriculture, fisheries, apparel, and processed foods. The leaders also reaffirmed their commitment to maintaining close coordination and mutual support at international and regional organizations, as well as emphasizing the importance of maintaining peace, stability, security, and freedom of navigation in adhering to international law.
The cherry on top: both Presidents were pleased to articulate their mutual desire to continue fostering closer relations, with President Luơơng Cường extending a warm invitation for President Dissanayaka to visit Vietnam in the future. As a result, the stage is set for further cooperative measures to be initiated between these two thriving nations.
[1] Vietnam News. (2025, May 5). Vietnam, Sri Lanka ink five cooperation deals amid expanded ties. Retrieved from https://vietnamnews.vn/[2] ASEAN Briefing. (2023, February 24). Vietnam's Agriculture and Food Processing Sector: Key Investment Opportunities 2023. Retrieved from https://www.aseanbriefing.com/[3] The Diplomat. (2023, August 1). The Future of U.S.-Vietnam Relations: Five Questions for Vietnam's New Leader. Retrieved from https://thediplomat.com/[4] The Straits Times. (2024, June 10). Sri Lanka's foreign policy: From looking West to an Eastward pivot. Retrieved from https://www.straitstimes.com/
Insight: On May 5, 2025, Vietnam and Sri Lanka sealed various agreements focused on enhancing cooperation and mutual benefits in sectors such as diplomacy, trade, customs, agriculture, and machinery manufacturing. These MoUs and the bilateral Agreement aim to promote knowledge share, foster academic exchanges, and boost economic cooperation while addressing complex global and regional developments.
- The recently signed Customs Cooperation Agreement between Vietnam and Sri Lanka aims to streamline customs procedures and make trade more efficient.
- The Machinery and Equipment Manufacturing MoU between the two nations focuses on promoting collaboration and cooperation within the manufacturing industry.
- The Agricultural Cooperation MoU underscores the importance of enhancing agricultural research and innovation through collaboration.
- The Diplomatic Training MoU encourages academic exchange and diplomatic training between Vietnam and Sri Lanka.
- The Trade Promotion MoU is designed to boost bilateral trade and cooperation in trade-related activities.
- As part of the economic cooperation between Vietnam and Sri Lanka, both countries have recognized the significant potential for growth and emphasized the need for breakthrough measures.
- Key areas of focus for this growth include agriculture, food security, science and technology, education, culture, healthcare, tourism, and people-to-people exchanges.
- In a historic moment, Vietnam and Sri Lanka sealed an agreement on cooperation and mutual assistance in the realm of customs, overseen by their respective leaders.
- The future of bilateral relations between Vietnam and Sri Lanka is based on high political trust, solid friendship, mutual support, and shared visions for further development.
- President Dissanayaka, during his visit to Vietnam, expressed admiration for Vietnam's impressive development since liberating the South and reunifying the country.
- The leaders of both countries agreed to maintain and strengthen traditional friendship, intensify mutual understanding, and boost cooperation between ruling parties, people's organizations, and friendship associations.
