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.