Vietnam – Laos expo contributes to enhancing trade links

This represents the largest trade promotion event held annually by the two countries' Ministries of Industry and Trade in the Lao capital.

It also provides a venue in which producers and investors of both countries can share their experience, establish partnerships and ventures, and foster technology transfer. 

As part of his opening remarks at the event Vietnamese Deputy Minister of Industry and Trade Do Thang Hai emphasised that the occasion is one of the large-scale trade promotion activities which practically celebrates the Vietnam – Laos and Laos - Vietnam Friendship and Solidarity Year in 2022. 

There are 250 pavilions open during the five-day event, including 120 run by nearly 80 Vietnamese companies which are exhibiting their pharmaceuticals, medical equipment, agro-forestry-aquaculture products, and processed foods. This is along with textiles, handicrafts and interior - exterior decorations, as well as plastics and consumer products. 

A number of business matching meetings, art performances, and cultural exchange programmes will be held as part of the framework of the expo. 

The Laotian market is widely considered to be an important gateway for Vietnamese enterprises as they strive to reach further to other ASEAN countries.

Recent times has seen the Bilateral Trade Agreement and the Vietnam-Laos Border Trade Agreement contribute to promoting trade in goods and services between the two countries. Their two-way trade turnover hit US$4.5 billion in the 2018 to 2021 period with an average annual growth of more than 10%. 
Last year saw trade reach US$1.37 billion, up 33.3% on-year. 

Over the first seven months of the year, two-way trade hit close to US$ 949 million, up 24.2% compared to the same period from 2021. In line with this, exports from the nation to Laos have increased over the last four consecutive months, strongly soaring by 33.9% in July.