The Vietnam - Laos trade fair (VIETLAO EXPO 2023), the largest annual trade promotion event co-organised by the countries’ ministries of industry and trade, opened in the Lao capital city of Vientiane on July 27.

Deputy Minister of Industry and Trade Tran Quoc Khanh hosted a reception for his Lao counterpart Bunthong Duonsavan on March 13 in Hanoi, during which he affirmed that Vietnam welcomes delegations from Lao ministries and sectors to learn experience in developing trade and industry.

VOV.VN - Two-way trade between the nation and Laos has regained its growth momentum, with the visit of Prime Minister Pham Minh Chinh and the 45th meeting of the Vietnam-Laos Inter-Governmental Committee anticipated to help promote the sustainable development of bilateral ties moving forward.

Laos enjoyed over US$400 million in trade surplus with Vietnam in the first six months of this year, excluding trade on power, according to Laos’ Ministry of Industry and Commerce.

Trade revenue between Vietnam and Laos in the first five months of this year stood at US$690.6 million, up 21% year-on-year.

Since the establishment of their bilateral diplomatic ties in 1962, Vietnam and Laos have promoted cooperation across various spheres, with their trade exchange posting substantial growth, benefiting both countries.

Two-way trade turnover between Vietnam and Lao topped US$403 million in the first quarter of this year, up 19.2% over the same period last year, according to the Vietnamese Trade Office in Laos.

Two-way trade between Vietnam and Laos is estimated at US$1.3 billion in 2021, a year-on-year rise of 30.3%, according to Deputy Minister of Industry and Trade Tran Quoc Phuong.

The special Vietnam - Laos friendship has been growing unceasingly across the board in the recent past, including in trade, which has been developing in an increasingly substantive manner.

Laos-Vietnam trade growth in 2020 is unlikely to meet the target of 10-15 % due to COVID-19, according to an article published by the Vientiane Times on September 4.