National Chamber delegation meets Viet Nam President in Hanoi

A 17 member business delegation from of the National Chamber of Commerce of Sri Lanka (NCCSL) led by Chamber President Asoka Hettigoda, met the President of Viet Nam Truong Tan Sang at the Presidential Palace during their visit to Viet Nam from 13-18 November.

Hettigoda explained to Truong Tan Sang the current economic conditions, improved business and investment climate Sri Lanka enjoys presently.

In return the president informed the Sri Lanka delegates about the very high potential both countries have for bilateral trade development and investment.

Hettigoda, further said that Sri Lanka presently exports products such as woven fabrics, residues of milling industry, crepe rubber, oil seed, tea packets and tea bags etc., to Viet Nam while at the same time Sri Lanka imports processed food, agricultural products, reception apparatus for televisions, agricultural machinery, cotton, marbles, man-made staple fibres, etc., from Viet Nam.

Present trade volume between Sri Lanka and Viet Nam ranges from USD 80-100 million. It is expected to improve the existing business areas and expand in to other areas as well.

Hettigoda also said that the NCCSL will work very hard to achieve USD 1 billion target set by the President of Sri Lanka and Viet Nam when the Viet Nam President visited Sri Lanka few weeks ago.

Members of the Sri Lankan delegation were keen in exploring business and investment opportunities in Viet Nam 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 regards to exchanging agricultural technology for mutual benefits. Other areas of interest were minerals and chemicals, non asbestos roofing products and medical related equipment.

The representative from Sri Lanka Export Development Board explained to the Viet Nam Business community about the Sri Lanka “Expo 2012”, the major exhibition of Sri Lankan products to the world. Many Vietnamese businessmen assured their participation at Sri Lanka “Expo 2012”.Apart from the meeting with the President of Viet Nam, the delegates also had detailed discussions with the senior officials of Viet Nam Chamber of Commerce and Industry  (VCCI), Foreign Investment Agency (FIA), Ministry of Trade and Investment and Viet Nam Small Medium Industries Association. The delegates also met representatives of over 100 Vietnamese companies and had one to one business meetings.

One of the most important activities that took place at the headquarters of the VCCI was the signing of a MOU between the National Chamber of Commerce of Sri Lanka and Viet Nam Chamber of Commerce and Industry to promote business relations, trade and investment between the two countries. The MOU was signed by Hettigoda, President of NCCSL and Hoang Van Dung, First Vice Executive President of VCCI in the presence of Dr. Ivan Amarasinghe, Ambassador of Sri Lanka in Viet Nam. We are thankful to Dr. Amarasinghe, who gave excellent corporation from the day the NCCSL initiated to organize the visit,  up to the departure of the delegates from Viet Nam. Dr. Amarasinghe extended his fullest support by attending in all the meetings the delegation had with the private sector as well as with the government officials.

Another important aspect of the visit was the meeting of the Sri Lankan Expatriates living in Ho Chi Minh and Hanoi cities by the delegates where the delegates had an opportunity to obtain first hand experience in doing business with Viet Nam.

The Sri Lankan delegates included: National Gem and Jewellery Authority Chairman/CEO General Rohan Daluwatte; Sri Lanka Export Development Board Deputy Director Shantha Fernando; Hadabima Authority Ministry of Agriculture Chairman H. M. Nandasena Herath; Aitken Spence Plantations GM Geeth Kumar Dayananda; A. S. Agri Exports (Pvt) Ltd MD Dr. A. S. Sabaratnam; Medilab Lanka (Pvt) Ltd Chairman Dr. A. H Cader; Dip Products Katuwawala (Pvt) Ltd. Chairman Thusitha Jayawardene; ACL Cables PLC MD Suren Madanayake; Jay Jay Mills Group Group Executive Chairman M. Balasubramaniam; Star Garments Ltd Vice President Operations Ranjan Buell; Coir de Lanka Exports (Pvt) Ltd/Association of Small and Medium Enterprises MD K. F. J. Macdonald Perera; Western Traders Proprietor Jude Xavier; Karunaratne Sons (Pvt) Ltd Director Champika Karunaratne; Kannan and Co Managing Partner A Gangatharan;  Lanka Wasana Motor Co. (Pvt.) Ltd Director Asiri Dayan Merenchige and NCCSL Deputy Secretary General Bandula Dissanayake (Coordinator  of the Delegation) representing various sectors such as apparel, gem and jewellery, chemicals/minerals, agriculture, medical equipment, and import/export sector.