The ministries of industry and trade of Vietnam and Laos co-organised a forum in Vientiane on December 19 to seek ways to improve bilateral trade, which is estimated at 900 million USD in 2017.
Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (Source: VNA)
Vientiane (VNA) –The ministries of industry and trade of Vietnam and Laos co-organised a forumin Vientiane on December 19 to seek ways to improve bilateral trade, which isestimated at 900 million USD in 2017, up 10 percent year on year.
Vietnamese Deputy Minister ofIndustry and Trade Tran Quoc Khanh said after a period of decline in 2015-2016,Vietnam-Laos trade regained momentum this year and met the target of 10-percentincrease as set by leaders of the two countries.
Lao Deputy Minister of Industryand Trade Bounmy Manivong said the forum aims to provide a chance for the twosides to review relevant documents reached during the past time and look for measuresto remove outstanding problems and obstacles in bilateral trade and investmentcooperation.
Speakers presented theirassessments about the current trade relations, pinpointed problems in trade andtrade-related investment activities between the two countries, particularlythose related to mechanisms and administrative procedures.
Current bilateral cooperativemechanisms also came under spotlight, with the aim of improving them to supportthe business communities of both countries to enhance production and exportcapacity.
Participants compared notes on thegood and bad points of the One stop shop model at border gates with a view to facilitatingborder trade.
Another issue of interest on theagenda was the direction and solutions for the trade of electricity betweenVietnam and Laos.
The forum attracted theparticipation of industry and trade officials of the two countries, and representativesfrom Vietnamese and Lao economic groups and firms.-VNA
The 2017 Vietnam-Laos Trade Fair began at the Lao International Trade Exhibition and Convention Centre in Vientiane, Laos on June 29 to mark 55 years of diplomatic ties between the two countries.
Since Vietnam and Laos set up diplomatic relations in 1962, the relationship between the two countries has flourished thanks to efforts from both sides to make ties deeper and more effective, especially in economy, trade and investment.
The Vietnam-Laos trade and tourism fair opened in Moc Chau district, the northern province of Son La on August 29 as part of the Moc Chau ethnic cultural festival in 2017.
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Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh (Source: VNA) 
