Vietnam seeks stronger trade ties with Laos

Mr Phuc made the commitment at a meeting with Lao Prime Minister Thongsing Thammavong in Vientiane on January 8.

Lao PM T. Thammavong welcomed Deputy PM Phuc (L) in Vientiane on January 8

He said bilateral trade was valued at US$636 million between January-November, 2011, a year-on-year increase of 48 percent, and it is estimated to hit US$700 million for the whole year.    

According to Deputy PM Phuc, many Vietnamese businesses such as Hoang Anh Gia Lai Group, Golf Long Thanh Trade and Investment JSC, the Bank of Development and Investment of Vietnam, and Hoa Phat group have already operated successfully in Laos.

To date, Vietnamese businesses have invested more than US$3.5 billion in Laos, ranking second among foreign investors in the country.

Mr Phuc said the two countries have cooperated well in education, human resources training and transport infrastructure construction. They have also held a number of cultural exchanges and workshops on information technology and science and technology.

Both countries have agreed to enhance the implementation of joint statements and high-level agreements reached by their top leaders to welcome Vietnam-Laos Solidarity and Friendship Year 2012.

Many Vietnamese localities which do not border Laos, including Quang Ninh, Vinh Phuc, HCM City and Hanoi, have provided practical assistance to Lao provinces.

This represents the close-knit, long lasting and durable relationship between Vietnam and Laos, said Mr Phuc.

PM Thammavong welcomed Mr Phuc to the 34^th session of the Vietnam-Laos Intergovernmental Committee for Economic, Cultural, Educational and Scientific and Technological Cooperation and said he believes that the results of the session will help raise bilateral ties to a new level in the near future.

The Lao government supports and creates the best possible conditions for Vietnamese businesses to operate in the country, said the PM.

He proposed organizing conferences on trade promotion and meetings between Lao leaders and Vietnamese businesses to iron out snags and facilitate their operations in Laos.