The agreement was reached at the 34th session of the Vietnam-Laos Intergovernmental Committee for Economic, Cultural, Educational and Scientific and Technological Cooperation in Vientiane, Laos, from January 3-7.

The meeting was co-chaired by Vietnamese Deputy Prime Minister Nguyen Xuan Phuc and his Lao counterpart Somsavath Lengsavad.

Both sides agreed to popularize a project on the history of special Vietnam-Laos ties and the Vietnam-Laos combat alliance and continue to gather more evidence to complete the project.

The two countries will increase the exchange of information and implement commitments within the multilateral cooperation framework, including ASEAN, the Greater Mekong Sub-Region (GMS) and the East West Economic Corridor (EWEC).

They will examine Vietnamese-funded projects in Laos and sign a new investment protection and encouragement agreement to replace the 1996 agreement.

Both sides agreed to hold groundbreaking and inauguration ceremonies of major joint cooperation projects invested by Vietnamese businesses to celebrate key anniversaries in 2012.

They will effectively implement their trade development scheme for 2008-2015 to raise two-way trade to US$2 billion by 2015. They will complete the formulation of the Vietnam-Laos border trade development master plan and coordinate with Cambodia to soon sign the tripartite road transport agreement.

At the session, both hosts and guests shared the view that in 2011, Vietnam and Laos boosted cooperation in education and training, closely coordinated at multilateral forums and reached high consensus on international and regional issues.

The two countries closely coordinated in implementing Vietnamese-funded projects in Laos and increased the exchange of experiences in culture, sports, museums and other fields.

On January 7, Deputy PM Phuc and his Lao counterpart Somsavath Lengsavad signed the minutes of the session and a cooperation agreement in 2012.