Four Memoranda of Understanding (MoUs) and one Agreement were signed yesterday (May 05) between Sri Lanka and Vietnam, in the presence of President Anura Kumara Disanayake and President of the Socialist Republic of Vietnam, Luong Cuong.

Among the agreements signed was a bilateral pact on enhancing cooperation and mutual support in customs affairs between the Democratic Socialist Republic of Sri Lanka and the Socialist Republic of Vietnam.

Additionally, an MoU between the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Entrepreneurship Development of Sri Lanka on cooperation in machinery and equipment manufacturing, an MoU between the Vietnam Academy of Agricultural Sciences and the Department of Agriculture of Sri Lanka on cooperation in agriculture, an MoU between the Bandaranaike International Diplomatic Training Institute (BIDTI) of Sri Lanka and the Diplomatic Academy of Vietnam and an MoU between the Vietnam Trade Promotion Agency and the Sri Lanka Export Development Board on trade promotion cooperation.

These agreements aim to facilitate knowledge sharing and the exchange of diplomats, experts, officials, scholars and researchers, while also encouraging the organization and participation in academic and research programmes, training initiatives and conferences related to diplomacy.

They also provide a platform for a broad range of trade promotion activities, including the exchange of trade and market intelligence, joint participation in trade fairs and exhibitions in both countries, and the organization of business networking events for private sector representatives.

It is expected that this enhanced cooperation will unlock significant market opportunities for both countries, particularly in the sectors of value-added agriculture, fisheries, apparel and Processed food.

The signing took place following bilateral discussions held at the Presidential Palace in Hanoi earlier in the morning.