Vietnamese trade office helps boost trade links with Laos

VOV.VN - Trade promotion has always been one of the key tasks carried out by the Embassy and Trade Office of Vietnam in Laos, with a view to promoting the growth of trade co-operation commensurate to boost the two countries’ special political relations.

Recent times has seen the Vietnam Trade Office in Laos enhance its role as a "trade bridge", actively supporting and protecting the interests of Vietnamese enterprises whilst operating in and accessing the market, as well as creating favourable conditions for Vietnamese goods to reach Laotian consumers.

With a land border stretching for roughly 2,340 km, the two sides enjoy a favourable geographical position to develop trade relations.

Furthermore, the two countries’ leaders have also paid close attention to and have worked to create resources aimed at supporting the promotion of economic and trade relations between both sides.

Currently, tariffs placed on import and export goods between the two nations have been basically abolished, at a rate of 98%, according to commitments set out in the ASEAN Economic Community, the Vietnam-Laos Trade Agreement, and the Border Trade Agreement. Vietnam – Laos. Indeed a separate agreement exists between the two countries with maximum favourable support policies for businesses in both nations’ border provinces operating in the field of imports and exports.

Since 2019, despite the global economy being heavily affected by the COVID-19 pandemic, instability, and conflicts in many places, Laos has maintained a small market capacity of only US$7 million, with both Vietnamese people and Vietnamese goods striving to compete in this market. However, trade turnover has maintained stable growth, with Vietnam consistently being among the top three largest trading partners of Laos.

The value of trade turnover between both sides reached an average of US$1.28 billion per year, with an average growth rate of 16% per year, thereby fulfilling the target of 10% per year growth set by the two countries' senior leaders.

As a "trade bridge", the Vietnam Trade Office in Laos regularly works alongside specialised units of Laos at the central and local levels in a bid to connect, introduce, and promote national brands, Vietnamese goods, policies, business environment in Vietnam, regulations on imports and exports, market information, and information about Vietnamese enterprises to Laotian partners.

Most notably, the Trade Office has co-operated with relevant Lao agencies and businesses of the two countries to organise a range of trade promotion programs in  Lao localities, this includes the national trade promotion programme VietLao Expo 2022 in August in the capital Vientiane, an event which attracted the participation of 120 businesses from both countries with 250 booths.

Currently, the Vietnam Trade Office in Laos is actively co-ordinating as it prepares for the Vietnam - Laos Trade Fair which will take place from November 3 to November 7 in Vientiane. It also invites Vietnamese businesses to participate in the Thatluang Fair slated for December in Vientiane and the Hmong New Year Fair which will be held in Xiengkhuang province in December.

Furthermore, the Vietnam Trade Office in Laos will also promote activities aimed at supporting the establishment of direct distribution channels of Vietnamese enterprises in the Laotian market whilst guiding enterprises on legal procedures to establish businesses in the host country.

It also supports the settlement of trade disputes between businesses of the two countries and gives advice on diversifying the import and export goods industry in the Lao market, as well as removing obstacles that could cause export growth to be limited.

Mời quý độc giả theo dõi VOV.VN trên