Vietnamese and Lao enterprises sign nine memoranda of understanding (MoUs) at a trade connection conference between Hanoi and Lao businesses held in Vientiane on November 24. (Photo: VNA)

Vientiane (VNA) – Vietnamese and Lao enterprises signed nine memoranda ofunderstanding (MoUs) spanning a wide range of cooperation fields at a tradeconnection conference between Hanoi and Lao businesses held in Vientiane onNovember 24.

Theevent was held by the Hanoi Department of Industry and Trade in collaborationwith the Vietnam Trade Office in Laos and the Vientiane Department of Industryand Trade, aiming to introduce strengths, trade, investment promotionopportunities between the two capital cities.

Accordingly,the agreements cover cooperation in seed transfer, technology and developmentof raw material areas, raw material purchase, and product consumption inan attempt open up many business cooperation opportunities.

Speaking at the event, Vice Chairman of the Hanoi municipal People’s CommitteeNguyen Manh Quyen said that over the past time, trade cooperation between Hanoiand Laos have gained fruitful results. Two-way trade between Hanoi and Laosreached 411 million USD in 2022.

Quyenaffirmed that the conference was of significance to Hanoi’s enterprises tobolster trade promotion, introduce brands and products, connect trade betweenVietnamese and Lao enterprises in the host country.

Hanoi’senterprises participating in the event shared their experience, demand andcooperation potential to Lao enterprises, introduced Hanoi’s traditional craft villages and their products. The two sides exchanged information and discussed toboost product consumption, and technology transfer.

Besides,the “Hanoi - Vietnam” booth was arranged with the participation of 16 enterprises from Hanoi,introducing agricultural products, food, garments and textiles, handicraftproducts, cosmetics, and OCOP  (one commune one product) productsin That Luang Festival and Vientiane Trade Exhibition 2023 from November 23-27. It has attracted attention oflocal enterprises and consumers.

On this occasion, Hanois' delegation visited a number of productionfacilities, supermarkets, and traditional markets in Vientiane to understand moreabout local people's needs and consumption habits, thereby seeking investment andbusiness cooperation opportunities, introduce products, study and find rawmaterial growing areas in Laos./.