Business

Sri Lanka wants to buy rice from Vietnam

Sri Lanka’s Minister of Industry and Commerce Rishad Badiutheen suggested Vietnamese exporters take part in supplying rice for his country as it is in need of buying about 15,000 tonnes.
Sri Lanka’s Minister of Industry and Commerce Rishad Badiutheensuggested Vietnamese exporters take part in supplying rice for hiscountry as it is in need of buying about 15,000 tonnes.

Thevisiting minister made the suggestion to Minister of Industry and TradeVu Huy Hoang during their talks in Hanoi on August 21.

He also suggested Vietnam share more experience to boost exports.

Both sides agreed to soon establish an inter-subcommittee on trade andspeed up the realisation of a memorandum of understanding on oil andgas and mechanics cooperation.

These activities will make iteasier for the Vietnam National Oil and Gas Group and the VietnamNational Petroleum Group to work closely with their Sri Lankan partners,they said.

They also pledged to facilitate visits and update each other on business and investment opportunities.

As a key gateway in South Asia, Sri Lanka is now the 65 th biggestinvestor in Vietnam with 10 projects worth over 14 million USD. Vietnamhas, however, yet set up any projects there.

Two-way traderecords an annual growth of 22 percent, with Vietnam shipping clinker,fibres, apparel, rubber, mobile phones and accessories to Sri Lankawhile importing animal feed, garment materials, leather and footwear,gemstones and precious metals.

In the first half of this year,Vietnam brought home 66 million USD from exports to Sri Lanka, up 11.8percent and spent 43 million USD on imports, marking a year-on-year riseof 139 percent.-VNA
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