MOIT VIETNAM | Bilateral trade Vietnam – Laos is developing
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Bilateral trade Vietnam – Laos is developing
The two countries are aiming to raise bilateral trade revenue 15% in 2019.
According to the General Department of Customs, in 2018, Vietnam - Laos bilateral trade turnover reached approximately 1.1 billion USD, up 16% compared to 2017. Vietnam's exports to Laos reached 595 million USD, up 14.3% compared to the previous year. Imports from Laos reached 437 million USD, up 18.4% compared to 2017.
During meeting on Vietnam-Laos cooperation in developing the industry & trade, in the framework of the working visit to Laos by Minister Tran Tuan Anh, the two sides emphasized the positive effects of the Vietnam - Laos trade agreement and Vietnam - Laos Border Trade Agreement.
These impacts contributed to the average annual trade growth of 10 percent and the completion of goals set at the 41st meeting of the Vietnam – Laos intergovernmental committee, Minister Tran Tuan Anh said.
Minister Tran Tuan Anh said that during the meeting on 3-year Vietnam-Laos Border Trade Agreement organized by Vietnam’s Ministry of Industry and Trade of Vietnam, besides the achievements, there are still many difficulties and obstacles reflected by enterprises.
Sharing the same opinion with Minister Tran Tuan Anh, Laos’ Minister of Industry and Trade acknowledged the above problems and affirmed that the two sides will work closely to overcome these obstacles.
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