Vietnam and Sri Lanka have agreed to boost two-way trade to 1 billion USD by 2015.

The target was set during a meeting between Vietnamese Foreign Minister Pham Binh Minh and his Sri Lankan counterpart, Prof. Gamini Lakshman Peiris, in Hanoi on July 17. Gamini Lakshman Peiris is paying an official visit to Vietnam from July 16th-18th at the invitation of Minh.

The FMs agreed to accelerate the implementation of agreements inked by the two sides, especially those reached during the visit to Sri Lanka by President Truong Tan Sang in October 2011, and further enhance cooperation in politics, security, national defence, economics, trade, investment, culture and education.

The two sides will soon study the feasibility of the signing of the Preferential Trade Agreement and maintain their close coordination at regional and international forums.

Sri Lanka commits to support Vietnam to run for the Human Rights Council for the 2014-2016 term and join the Asian-African Legal Consultative Organisation in Nigeria in 2013.

Both held that principles to ensure marine security and freedom and peaceful solutions for disputes at sea must be based on respect to international law.

The two diplomats noted with pleasure the active development in relations between the two countries, with two-way trade in 2011 hitting 100 million USD, exceeding the set target for 2012.

They briefed each other of their country’s situation and discussed the orientations and measures to boost the relations in the future.

Minh described the visit as an important milestone that contributes to further fostering the traditional friendship and multi-faceted cooperation between the two countries.

The Sri Lankan FM said he is impressed by Vietnam ’s achievements in the renewal process and economic development, and expressed his belief that the country will reap greater achievements in future.-VNA