Home / Knowledge / News / Ceylon Chamber forms Lanka-Vietnam Business Council
Ceylon Chamber forms Lanka-Vietnam Business Council
12
Jun '10
If Hanoi sets up an embassy in Colombo for official clearances and visas, it will accelerate the growth of Sri Lanka's trade and economic links with Vietnam, said Sri Lankan businessmen to visiting Vietnamese Deputy Trade and Industry Minister, Le Doung Quang.

A Sri Lanka-Vietnam Business Council has been formed recently, by the Ceylon Chamber of Commerce in the presence of Le Doung. As per the former Chairman of the Ceylon Chamber of Commerce, Deva Rodrigo, member firms had said that, the establishment of Vietnamese embassy in Colombo and the direct air links between the two countries could reinforce trade links.

The Vietnamese Minister informed that Vietnam is mulling over setting up an embassy in Sri Lanka, while, Sri Lankan embassy has already been set up in Hanoi. Both theses countries had targeted to increase bilateral trade to $100 million after Sri Lankan President's last year's visit to Vietnam, said Minister Quang.

An investment protection agreement and a double taxation deal were also inked between the two countries. Both the countries should organize maximum number of trade fairs, opined the Minister.

Rodrigo informed that, the Sri Lankan data says that, currently, the trade balance is in favor of Vietnam. In the year 2008, the bilateral trade between the countries stood at US $43.7 million, out of which $28.06 million were imports from Vietnam and $15.6 million was exports, according to Gomi Senadhira, Sri Lanka's Director General of Commerce.

While, in 2009, this trade dropped down to $32.7 million, as Sri Lanka's external trade contracted two-way trade with Vietnam. Out of these $32.7 million, $22.3 million was in the form of imports.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Courtesy: London Fashion Week

Fashion | On 22nd Feb 2017

India bags best country award at London Fashion Week

The International Fashion Showcase (IFS) Country Award was given to...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search