Southeast Asia Information Port (www.dnyxxg.com) – According to the Vietnamese Ministry of Industry and Trade, the 13th Vietnam-Laos Border Trade Development Cooperation Conference was held on November 7th in Quang Ninh Province, Vietnam. The conference was co-chaired by Vietnamese Minister of Industry and Trade Nguyen Hong Tien and Lao Minister of Industry and Trade Marathon Kongmasey. Both sides reaffirmed their commitment to expanding trade volume and deepening border trade and economic ties, contributing to sustainable growth and consolidating their special friendship.
Vietnam is one of Laos' important trading partners. Data from the Lao Ministry of Industry and Trade shows that in the first nine months of this year, bilateral trade reached US$2.1 billion, ranking third among Laos' trading partners, after China and Thailand. Previously, during the ASEAN Summit in Malaysia, the leaders of Vietnam and Laos met and reached a consensus, setting an annual bilateral trade target of US$5 billion – a significant increase from the US$2.86 billion target for 2024. Currently, the main commodities traded between the two countries include chemical products, diesel fuel, rubber, electrical equipment and appliances, wood pulp, and other industrial materials.
At the meeting, Marathon Kommasith stated that border trade not only has significant economic importance but also profound political, cultural, and social value. "It is the lifeline of the great friendship between our two countries and a driving force for stable and sustainable growth," he said. He pointed out that border trade allows Laos access to a wider range of goods and markets, and also builds a bridge for Vietnamese goods to enter the Lao market and subsequently reach third-country markets.
Nguyen Hong Dian urged participants to focus on key areas: assessing trade and investment progress and the challenges faced, exploring solutions to strengthen bilateral trade, and improving infrastructure, logistics systems, and production capacity in border areas. He emphasized that this meeting should lay the foundation for pragmatic and sustainable cooperation based on innovation, digital transformation, and green growth. "I believe that, relying on the deep friendship, special solidarity, and comprehensive cooperation between our two parties, countries, and peoples, this meeting will be an important milestone, opening a new chapter of deeper and more efficient cooperation between Vietnam and Laos." Quang Ninh Provincial Chairman Bui Van Khang stated that the annual meeting on Vietnam-Laos border trade development cooperation has become an important mechanism for reviewing cooperation progress, overcoming obstacles to cooperation, and creating favorable conditions for cross-border trade. He hopes that this meeting and related activities will usher in a new stage of bilateral cooperation and inject new momentum into trade, investment, industrial development and infrastructure construction in the border economic zone.
