For the purpose of collaborating on the development of border trade infrastructure, this is the first agreement between the Vietnamese and Laotian governments at the official level.

A new milestone that demonstrates the special and great relationship that exists between Vietnam and Laos is the signing of a Memorandum of Understanding, which serves as the legal basis for development cooperation and the connection of border trade infrastructure between the two countries. This is also an opportunity for Vietnam and Laos to affirm their role as a bridge with ASEAN countries and the region; promote the potential and take advantage of the advantages and strengths of the Vietnam and Laos border provinces in the East-West economic corridor; contribute to improving living standards and creating jobs for residents on both sides of the border; strengthen close cooperative relationships in the fields of economics, trade, culture, and society; contribute to ensuring national defense, stabilizing the security situation, order, and socio-economic development in the region of the Vietnam-Laos border.

While keeping in mind the importance of developing the border trade infrastructure between Vietnam and Laos in order to guarantee appropriate modernity and sustainability; Ascending to the position of a significant commercial gateway between Vietnam and countries in the region and around the world; Participate in the establishment of socioeconomic conditions in border regions; In order to encourage companies to participate in trade exchanges, the following components are included in the content of cooperation: the sharing of information regarding the building and development of infrastructure for border trade by each of the Parties; It is important to provide assistance in the construction and development of border trade infrastructure on both sides. Tradespeople from Vietnam and Laos should be encouraged to make investments in the construction and development of commercial infrastructure in border regions. It is important to share your experiences regarding legal frameworks and plans to construct and develop infrastructure for border trade. The two parties should work together to develop and train human resources for state management agencies and traders so that they can participate in the development of border trade infrastructure; Coordination is required in order to organize activities that promote trade and investment in order to develop trade infrastructure in the border region between Vietnam and Laos, as well as other contents that have been agreed upon by both parties.

Ten border provinces of Vietnam, including Dien Bien, Son La, Thanh Hoa, Nghe An, Ha Tinh, Quang Binh, Quang Tri, Thua Thien Hue, Quang Nam, and Kon Tum, as well as ten border provinces of Laos, including Phong Sa Ly, Luang Prabang, Hua Phan, Xieng Khouang, Bo Ly Kham Xay, Kham Muon, Sa Van Na Ket, Sa La Van, Xe Kong, and At Ta Pu, were involved in the implementation of the memorandum of understanding.

The memorandum of understanding is in line with the foreign policy of Vietnam and Laos; it is in line with the current actual situation, which is that Vietnam and Laos are official members of the World Trade Organization (WTO) and participate in the ASEAN Free Trade Area. Following the completion of internal procedures in accordance with regulations, the focal agency, which is the Ministry of Industry and Trade of both countries, will coordinate the implementation of the Memorandum of Understanding in the near future.