Southeast Asia Information Port (www.dnyxxg.com) – The Vietnam-Laos Trade Expo 2024 (VIETLAO EXPO 2024), jointly hosted by the Vietnamese and Lao Ministries of Industry and Trade and organized by their respective trade promotion agencies and related organizations, was held from July 25th to 29th at the Lao International Exhibition and Convention Center (Lao Itecc) in Vientiane, the capital of Laos.
This is the largest annual trade promotion event between Vietnam and Laos. Vietnamese Ambassador to Laos Nguyen Ba Hung, representatives from the Vietnamese and Lao Ministries of Industry and Trade, and numerous representatives from businesses of both countries operating in Vientiane attended the opening ceremony of the Vietnam-Laos Trade Expo 2024 on July 25th.
In his opening remarks, Ambassador Nguyen Ba Hung stated that economic cooperation has become the long-term foundation of Vietnam-Laos relations and is developing more effectively. Vietnam has been among Laos' top three trading partners for many years. In the first six months of 2024, the total bilateral trade volume between Vietnam and Laos reached US$928 million, an increase of 11% year-on-year. Vietnam's exports to Laos reached US$289 million, a year-on-year increase of 7.4%; imports from Laos totaled US$639 million, a year-on-year increase of 12.8%. Ambassador Nguyen Ba Hung expressed his hope that trade between Vietnam and Laos would increase by more than 10% by 2024, achieving the goals set by the two countries' high-level leaders at the 46th Intergovernmental Joint Committee meeting.
Ambassador Nguyen Ba Hung stated that many Vietnamese investment projects in Laos are operating effectively, making positive contributions to local socio-economic development, creating jobs, increasing the income of thousands of workers, and supplementing Laos' national budget revenue. Ambassador Nguyen Ba Hung pointed out that in the future, both governments hope to maximize the potential of bilateral trade cooperation and increase bilateral trade to US$2 billion.
The 2024 Vietnam-Laos Trade Fair attracted hundreds of enterprises from both countries to showcase and introduce their products; the fair featured approximately 250 booths, including 120 standard booths for Vietnamese enterprises, displaying pharmaceuticals and medical equipment, agriculture, forestry, fisheries and processed foods, clothing, handicrafts and interior and exterior decorations, plastics, and consumer goods.
The Vietnam-Laos Trade Fair 2024 will serve as an effective bridge for Vietnamese and Lao business organizations, manufacturers, and investors to meet, exchange experiences, transfer technology, invest, and establish joint ventures. This event will also contribute to further promoting trade cooperation between Vietnam and Laos and showcasing their respective national products and brands. (End)
