The Institute of Indian and Southwest Asian Studies hosted a virtual workshop on September 22 to examine the future prospects of Vietnam-Sri Lanka relations on the occasion of the 50th anniversary of their diplomatic ties.

Addressing the event, Prof. Dang Nguyen Anh, vice president of the Vietnam Academy of Social Sciences, highlighted major developments in Vietnam-Sri Lanka relations over the past five decades, and said both sides should strive to make trade and investment links on a par with political ties. 

Both sides should work towards promoting their trade balance by facilitating Sri Lankan imports of Vietnamese products and trying to encourage small and medium-sized businesses from Sri Lanka to invest in the nation, said Prof. Anh. In addition, he suggested a number of major investment fields, including infrastructure, high-technology, renewable energy, technology transfer, and the development of the support industry. 

Furthermore, he stated that the two countries should encourage their respective business communities to participate in global production and supply chains. 

The expert also stressed the necessity of promoting multilateral diplomacy, adding that it is imperative for both sides to increase the sharing of experiences within multilateral co-operation forums such as the World Trade Organization, the United Nations, and regional institutions in the Indo-Pacific region. 

At present, the Indo-Pacific region is facing a host of challenges in terms of regional security, wildlife trading, drug trafficking, and transnational crime. It can therefore be seen that closer co-operation to address these issues will bring about plenty of benefits to both countries, positively contributing to stability and peace both regionally and globally, noted Prof. Anh. 

Meanwhile, Jayanath Colombage, Sri Lanka’s Foreign Affairs Secretary, emphasised that the long-standing relationship between both nations will serve to elevate each country’s role in the region as well as in the international arena.

According to the diplomat, Vietnam has made an increasingly active contribution to peace, security, and prosperity in the region and the wider world through its relationship with Sri Lanka. 

The South Asian nation will help to bridge co-operation between Vietnam and other important partners located in the Indian Ocean, he said, adding that the relationship between both sides will also pave the way for Sri Lanka to connect with Southeast Asian countries.

Workshop participants also had the chance to discuss future trade and investment co-operation between Vietnam and Sri Lanka.