Saturday, July 16, 2011

Chamber to lead trade mission to Vietnam

Saturday, 16 July 2011

Fifteen Member Mission organized by the Sri Lanka Chamber of Small and Medium Industries led by it’s President Aloy Jayawardene leaves for Hanoi shortly, on a 8-day business tour. The entire programme for the tour is arranged by H.E. Ton Sinh Thanh who took Office at the recently opened Vietnam Mission in Sri Lanka, as its first Ambassador, representing the Socialist Republic of Vietnam.

The Delegation will visit Hanoi initially, where they will meet the umbrella organization “Vietnam Chamber of Commerce and Industry”. A meeting is arranged with the Hon. Minister of Industry and Trade and also Officials of the Ministry. Over 60 business representatives are in attendance at this meeting. The second stop of this Mission will be the City of Danang. From there the Mission leaves for Ho Chi Minh. Both Danang and Ho Chi Minh are industrial Cities, with a number of Small and Medium Manufacturing Units. Meetings arranged with Small and Medium Entreprises Associations, with one to one meetings and factory visits. These meetings made possible as Company Profiles and interests of each Member of the Delegation was sent to the respective Chambers.

The Sri Lanka Delegation represents the following Manufacturing Units – Garments Identification products, Woven Labels, Printed labels, Leaf Spring Bushes in Bronze, Electrical

Power Cables, Heavy Metal Castings, Bulbs, Plugs and Switches, Furniture, Technical Rubber Products, bicycle and Motor Cycle Tyres, Ladies, Gents and Children’s Footwear, Metal Fabrications, Glass and Mirror Products, Polybags, Adhesive Tape Bags, Hotel Kitchen Equipment, Agricultural Machinery, Interior Decors for Offices, Hotels, Electrical fittings and Foundry Operators.

The bi-lateral trade volume which stood at US $ 19 Miln. in 2006 has climbed up to US $ 65 Miln. in 2010 with a US $ 23 Miln. Trade balance in favour of Vietnam. In the aftermath of Vietnam’s entry into World Trade Organisation in 2006 and its integration to the Asia –Pacific Co-operation and ASEAN, the Business potential for Sri Lanka in Vietnam has grown significantly.

Jayawardene said, the present volume of bi-lateral trade does not reflect in its full potential even on a conservative estimate, and therefore our Trade Mission will certainly help to achieve a desirable quantum of bi-lateral trade with benefits accruing to stakeholders in both countries in an equitable manner.

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