Laos, Vietnam pledge to increase bilateral trade by 8-10% yearly

Lao and Vietnamese Ministries of Industry and Commerce have pledged to urge private businesses of the two countries to continue to increase the annual volume of bilateral trade by 8-10% through 2025.

“This goal is part of the celebration of the 60th anniversary of the establishment of diplomatic ties between Laos and Vietnam (Sep 5, 1962 – 2022) and the 45th anniversary of the signing of the Treaty of Amity and Cooperation, (Jul 18, 1977 – 2022),” said Minister of Industry and Commerce Khampheng Xaysompheng.

“Both sides need to continue implementing the Laos-Vietnam Bilateral Cooperation Agreement 2021-2025 and continue to discuss on an annual basis the cooperation plan between the two ministries through 2030, promote bilateral trade and remove obstacles to business operation in the two countries,” said the minister.

Source: Lao News Agency