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Aiming to raise bilateral trade turnover between Vietnam and Sri Lanka to USD 1 billion, in line with the direction set by General Secretary and President Tô Lâm and the Prime Minister of Sri Lanka, businesses from both countries are actively expanding connections and seeking opportunities for investment and trade cooperation across various potential fields. Among these, fertilizers, chemicals, and agricultural materials are seen as areas with significant potential for collaboration between the two sides.

To concretize the goal of promoting economic and trade cooperation between Vietnam and Sri Lanka, on the afternoon of May 21, 2026, at the headquarters of the Vietnam National Chemical Group (Vinachem), Mr. Nguyễn Văn Luyện, Deputy General Director of Vinachem, held a working session with Mr. Poshitha Perera, Ambassador Extraordinary and Plenipotentiary of the Democratic Socialist Republic of Sri Lanka to Vietnam. The meeting focused on discussing opportunities for trade cooperation and promoting the export of fertilizer and chemical industrial products from Vinachem to the Sri Lankan market.

At the meeting, Mr. Nguyễn Văn Luyện provided an overview of Vinachem’s production capabilities, scale of operations, and product ecosystem. Currently, Vinachem comprises 33 member units with about 20,000 employees, operating in various sectors such as fertilizer production, basic chemicals, tires and tubes, batteries, cosmetics, and products serving the industrial, agricultural, and healthcare sectors.

Fertilizers remain a key strength of Vinachem, holding a 40–42% market share in Vietnam, and Vinachem’s products have been exported to over 70 countries and territories worldwide. Vinachem representatives affirmed the Group’s full capacity to meet the growing demand in the Sri Lankan market for products such as urea, NPK, and other fertilizers serving agricultural production.

In addition to fertilizers, Vinachem also wishes to expand trade cooperation in Sri Lanka with other product groups such as basic chemicals for industry and agriculture, automobile and motorcycle tires and tubes, batteries, uninterruptible power supplies, detergents, and cosmetic chemical products.

Vinachem proposed that the Sri Lankan side support enhanced connections with management authorities, industry associations, and import businesses in Sri Lanka to create favorable conditions for Vinachem’s products to gain deeper access to this market. At the same time, Vinachem expressed its desire for both sides to soon establish a focal cooperation mechanism among enterprises, promote the exchange of market information, import demand, as well as technical standards related to fertilizers and chemicals.

Besides promoting the export of Vinachem’s key products, Mr. Nguyễn Văn Luyện also expressed the hope that Sri Lanka would introduce additional goods, raw materials, and products in which Sri Lanka has advantages or can supply, so that both sides can explore cooperation opportunities, trade exchange, and bilateral supply chain development in the coming time.

Speaking at the meeting, Mr. Poshitha Perera highly appreciated Vinachem’s production capacity and long-standing experience in the chemical and fertilizer sector. The Ambassador noted that Sri Lanka currently has a high demand for agricultural materials, especially high-quality fertilizers for agricultural production.

The Ambassador also expressed the desire to strengthen connections between Sri Lankan enterprises and Vinachem to expand bilateral trade activities. He affirmed that he would coordinate with relevant authorities, associations, and the Sri Lankan business community to introduce and connect suitable partners with Vinachem’s member units.

The two sides also discussed the possibility of expanding cooperation into industrial raw materials, basic chemicals, and consumer products in the chemical sector. The Sri Lankan side indicated its readiness to support connections with importers and provide market demand information for Vinachem to study and develop appropriate cooperation plans.

At the end of the meeting, both sides agreed to continue maintaining information exchange, promote business connections, and study the establishment of a long-term cooperation mechanism in the fields of fertilizers, chemicals, and materials serving industrial and agricultural production between Vinachem and Sri Lankan partners.