The two sides agreed to speed up the negotiation of the 2015 Vietnam-Laos Trade Agreement Amendment Agreement to be completed and signed in 2021.

On the afternoon of August 9, within the framework of President Nguyen Xuan Phuc's visit to Laos, Minister of Industry and Trade Nguyen Hong Dien visited and worked with Lao Minister of Industry and Trade Khampheng Xaysompheng.

Minister of Industry and Trade Nguyen Hong Dien meets Lao Minister of Industry and Trade Khampheng Xaysompheng

At the meeting, the two Ministers emphasized the importance of the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos; affirming that the officials of the two ministries always consider each other as comrades.

In the field of trade, the two Ministers were pleased to see that bilateral trade turnover has regained its positive growth momentum in the first 6 months of 2021, creating a solid foundation for the two ministries to fulfill the target of 10% trade turnover growth in 2021 that the senior leaders of the two countries have set out in the cooperation plan between the two governments in 2021.

The two sides agreed to promote the negotiation of the Agreement to amend the Vietnam-Laos Trade Agreement in 2015 to be completed and signed in 2021; promote the relevant agencies of both countries to fully implement the commitments of the Vietnam-Laos Border Trade Agreement.

Minister Nguyen Hong Dien also emphasized the significance and necessity of planning and building the Hanoi-Vientiane highway, considering it an economic space to accelerate, promote and expand bilateral trade flows as well as a basis for the Ministry of Industry and Trade of Vietnam to encourage and support many Vietnamese businesses to invest in Laos in order to maximize the potential of the relationship between the two countries.

Minister Nguyen Hong Dien said that the Ministry of Industry and Trade of Vietnam will organize a conference on economic development in the border area with the participation of 25 border provinces of Vietnam in August 2021 remove difficulties and obstacles and propose breakthrough mechanisms and policies for the sustainable economic development of the border area.

The Minister proposed that the Lao Ministry of Industry and Trade together with the border provinces of Laos organize the review, grasp the difficulties and obstacles, propose solutions for economic development in the border area on the Laos side. If the two sides work together, it will create conditions for optimal coordination of resources of the two countries in the development of the border area between Vietnam and Laos.

The two Ministers agreed to assign the focal points of the two ministries (on the side of the Ministry of Industry and Trade, the Asia-Africa Market Department) to continue to closely coordinate, regularly communicate, review difficulties, problems in the field of economy and trade to promptly report to the two Ministers for direction and handling.

On this occasion, Minister Nguyen Hong Dien invited Minister Khampheng Xaysompheng to visit and work in Vietnam as soon as conditions allow for the two sides to organize a Conference on Industry, Trade and Energy Cooperation and Development. Vietnam-Laos mines and mines in Vietnam.

This is an important annual cooperation mechanism, creating a basis for the two sides to strengthen cohesion, close and effective cooperation in order to further develop the multifaceted bilateral cooperation between Vietnam and Laos, fulfill the mission of the two countries. tasks assigned by senior management.