MOIT VIETNAM | Looking back at the positive signals in Vietnam-Laos economic cooperation in the first period of 2021
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Looking back at the positive signals in Vietnam-Laos economic cooperation in the first period of 2021
The main export items of Vietnam to Laos are machinery, equipment, tools and spare parts with over 13.4 million USD, iron and steel products reaching nearly 6.8 million USD... Import and export turnover between Vietnam and Laos has increased again after a period of decline due to the COVID-19 epidemic.
According to the Vietnam Trade Office in Laos, the two-way trade turnover between Vietnam and Laos reached over US$570 million, in the first five months of this year which is an increase of up 25% over the same period; in which exports into Laos reached more than 280 million USD, this being an increase of more than 23%, and imports into Vietnam reaching more than 290 million USD, with this being an increase of nearly 59%. In comparison to the same period in 2019, when there was no epidemic, the two-way turnover increased by over 16% with credit due to the increase from the import side of more than 46% while the export side having decreased slightly by -4%.
In May 2021, the two-way trade turnover between Vietnam and Laos reached over 113 million USD, which is an increase of nearly 57% over the same period last year. The main export items of Vietnam to Laos are machinery, equipment, tools and spare parts, with trade value reaching more than 13.4 million USD; with ceramic products reaching more than 1 million USD, textiles reaching more than 900,000 USD; iron and steel products reaching nearly 6.8 million USD; petroleum reaching nearly 1.9 million USD...
Vietnam's main imports from Laos are wood and wood products with nearly 10.3 million USD; ores and minerals reached more than 9.1 million USD; Rubber reached more than 9.8 million USD...
Talking to a reporter from the Vietnam News Agency in Laos on June 17, Commercial Counselor of the Vietnamese Embassy in Laos Le Thi Phuong Hoa said that according to the forecast, compared to the same period last year, the turnover in May continued. increased by nearly 57%, of which the increase in import (nearly 84%) was stronger than in export (nearly 40%).
It is expected that in June 2021, the import and export turnover between Vietnam and Laos may still increase, but the increase is not much because the epidemic has not been completely controlled in both countries.
According to Ms. Le Thi Phuong Hoa, in order to support businesses, the Vietnam Trade Office in Laos has made a list of Vietnamese businesses that wants to introduce goods to Laos and to send to focal points to aid them and connect distributors for businesses. The Vietnam Emgassy in Laos will also aid in providing information and work with businesses to remove difficulties in the transportation of goods between the two countries.
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