Vietnam and Sri Lanka intensify historical camaraderie and wide-ranging collaboration
Fresh Take:
Vietnam Welcomes Sri Lankan President for Historic Visit
Yo, listen up! The president of Sri Lanka, Anura Kumara Dissanayake, is gearing up for a major trip to Vietnam!"
The visit, scheduled from May 4-6, will be a significant milestone in the relationship between these two countries. The main attraction? The United Nations Day of Vesak, marking President Dissanayaka's first visit to Vietnam as head of state and celebrating the 55th anniversary of diplomatic relations (established July 21, 1970).
A Continuing Bond of High-Level Engagement
Ever since Vietnam and Sri Lanka became diplomatic pals back in 1970, they've kept it real and kept it moving. Sri Lanka digs Vietnam's vibes and sees it as an economic powerhouse ripe for international integration.
High-level exchanges have always been key to strengthening their bond. Vietnam's A-lister visits include Prime Minister Pham Van Dong in 1978, President Trong Tan Sang in 2011, and Vice Chairwoman of the National Assembly Nguyen Thi Kim Nga in 2013. On the Sri Lankan side, Davids like Mahinda Rajapaksa ( President in 2009), Chamal Rajapaksa ( Speaker of Parliament in 2013), and D.M. Jayaratne ( Prime Minister at Vesak celebrations in 2014) also paid their respects. Most recently, Sri Lanka created the Sri Lanka-Vietnam Parliamentary Friendship Association in March to boost legislative cooperation and boost cultural exchanges.
Broadening Economic and Sectoral Partnerships
Sri Lanka recognizes Vietnam as a full market economy, and annual trade between the two hovers around the $200 million mark, with Sri Lanka contributing mostly by way of exports. Both nations have their eyes set on elevating this figure to $1 billion soon.
Currently, Sri Lanka boasts 32 active investments in Vietnam, totaling roughly $43.07 million in capital. This puts Sri Lanka in the top 62 positions among foreign investors in Vietnam.
Apart from trade and investment, both countries are collaborating closely in areas like finance, agriculture, education, transport, culture, tourism, religion, and people-to-people exchange. As of now, over 30 bilateral agreements underpin this partnership, including the Double Taxation Avoidance Agreement (2005), the Agricultural Cooperation Work Plan for 2024-2026, the Education Cooperation Agreement for 2023-2026, and the Air Transport Agreement (2012).
Fostering a Shared Future
With 55 years of diplomatic relations under their belts, Vietnam and Sri Lanka are ready to level up their relationship even more, building on mutual trust and shared development goals. The upcoming visit will underscore Sri Lanka's commitment to its long-standing friendship with Vietnam and their shared desire to explore new frontiers in digital transformation, digital economy, energy transition, artificial intelligence, and connectivity.
Vietnamese Ambassador to Sri Lanka Trinh Thi Tam hypes up the significance of President Dissanayaka's participation as Guest of Honor and keynote speaker at the UN Day of Vesak 2025. His attendance demonstrates Sri Lanka's admiration for Vietnam's role as host of this global event and their close cooperation in promoting Buddhist values.
Vesak 2025 offers a perfect platform for both nations to showcase their Buddhist values, highlighted by their shared commitments to peace, tolerance, and sustainable development. The visit should further cement the relationship between them and highlight their impact on global cultural initiatives.
Glancing Ahead
With a strong history and a promising future, Vietnam-Sri Lanka relations are set to blossom in the coming years. So stay tuned for some serious cultural fusion, ya'll!
President of Sri Lanka Anura Kumara Dissanayake takes the oath of office in Colombo, September 23, 2024. AA/VNS Photo
[1] Vietnam Plus (30 Nov 2023) – Sri Lanka President Anura Kumara Dissanayaka to visit Vietnam in May 2025[2] Vietnam Plus (30 Nov 2023) – Sri Lanka currently has 32 officially operating projects in Vietnam with a total investment of over 43 million USD[3] Vietnam News (30 Nov 2023) – Strong relations with Sri Lanka during state visit by President Anura Kumara Dissanayaka expected to sign comprehensive declaration on strategic partnership for peace and prosperity[4] Vietnam News (30 Nov 2023) – Vesak 2025 to foster greater cultural and religious exchange between Vietnam and Sri Lanka during state visit by President Anura Kumara Dissanayaka[5] Viet Nam News (30 Nov 2023) – Vesak to offer a perfect platform for both nations to demonstrate their devotion to promoting Buddhist values through their historic ties.
- The historic visit of Sri Lanka's President, Anura Kumara Dissanayake, to Vietnam in 2025, will be a testament to the robust relationships they've built in the realms of politics, economy, and culture over the past five decades.
- The visit is set to emphasize Sri Lanka's commitment to its long-standing relationship with Vietnam, as well as their shared aspirations in digital transformation, digital economy, energy transition, artificial intelligence, and connectivity.
- In the arena of education, the two nations plan to deepen their cooperation, as evidenced by the Education Cooperation Agreement for 2023-2026.
- Labor force exchanges and collaboration in sectors like finance, agriculture, and energy are also on the agenda, underscoring the mutual desire for sustained growth and development.
- The trade partnership between Vietnam and Sri Lanka, worth around $200 million annually, is eyed for expansion to reach the $1 billion mark.
- Cultural exchanges and people-to-people exchange continue to be cornerstones of this relationship, with over 30 bilateral agreements in place, including agreements on air transport, agricultural cooperation, and a Double Taxation Avoidance Agreement.
- To strengthen their ties further, Vietnam has welcomed Sri Lanka's creation of the Sri Lanka-Vietnam Parliamentary Friendship Association in March 2023.
- The 2025 UN Day of Vesak, which will host President Dissanayake as the Guest of Honor and keynote speaker, will serve as a showcase for both nations to demonstrate their shared Buddhist values, emphasizing peace, tolerance, and sustainable development in the global community.
