MOIT VIETNAM | Building long-term economic cooperation relationship of the two countries Vietnam and Laos

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Building long-term economic cooperation relationship of the two countries Vietnam and Laos

14th November 2022 post by MOIT Vietnam

An international conference was conducted in Vientiane, Laos, with participation from representatives of the pertinent ministries and industries, with the theme "Strengthening regional linkages, expanding East-West logistical corridors." Associations from Laos and Vietnam, experts in logistics, and representatives of several companies and investors from Vietnam, Laos, and Thailand. The conference was really productive.

Laos is a nation with enormous potential to develop into a transportation hub, according to the organizing committee of the international conference with the theme "Strengthening regional links, establishing East-West logistics corridors." Due to its strategic location between Myanmar, China, Cambodia, Vietnam, and Thailand, Laos has enormous potential for connecting products between East Asia and West Asia. Moreover, the development of the Kunming - Vientiane high-speed railway as well as the great advantage from the waterway connection through the Mekong river system and the road and border gates connecting with Vietnam, Thailand, Laos has a lot of potential in promoting East-West logistics corridors connecting for the purpose of goods circulation, ensuring smooth operation of the regional economy, contributing to economic development - society in the Mekong sub-region in general and in Laos in particular.

Speaking at the international conference with the theme "Strengthening regional linkages, developing East-West logistics corridors", Deputy Director of the Lao Trade Promotion Department, Mr. Somvixay Vongthirath said that logistics service is one of areas of strategic importance in promoting Laos' trade, import-export and services. Although Laos is the only country in Southeast Asia that does not have a shipping route, it still receives very enthusiastic help from Vietnam in connecting with Vietnam's shipping. In the coming time, in addition to the long-term commercial cooperation and communication relationship between Laos and Vietnam from the top leaders of the state to all levels of ministries and branches, Laos will continue to strengthen promotion and development. border trade and trade services connected to the logistics of goods in transit through Vietnam.

Deputy Director of Trade Promotion Department (Laos Ministry of Industry and Trade) Somvixay Vongthirath also welcomed the initiative to organize an international seminar with the theme "Strengthening regional linkages, developing East-West logistics corridors" and presented the presentation. expressed his wish that the international conference with the theme "Strengthening regional linkages, developing East-West logistics corridors" would play an important role in promoting logistics - which not only helps increase trade value and economic connection between the two countries, but also help achieve the goals and targets set by the Governments of the two countries.

At the international conference with the theme "Strengthening regional linkages, developing East-West logistics corridors, the Vietnamese side hopes that through the seminar, Lao logistics enterprises will realize the great potential of Laos. of the regional market, not only focusing on the domestic market but also reaching out to neighboring countries, to increasingly affirm Laos' position in the common development of the ASEAN community; The Vietnamese side affirmed a great opportunity in developing logistics connection activities between the two countries Laos - Vietnam through the East - West logistics corridors. This is an activity that contributes to the development of the transport industry in Laos through the development of logistics solutions connected to the existing ecosystem of seaports, inland ports, warehouses and logistics services.

Representatives of the Laos International Transport and Forwarding Association discussed their practical struggles at the international conference with the theme "Strengthening regional links, building East-West logistics corridors." encountered by businesses engaged with logistical operations in Laos, and they also promised to forge strategic alliances with businesses and logistics organizations in neighboring nations, particularly Vietnam.

Vietnamese and Laotian businesses brought up a number of outstanding issues during the discussion portion of the international seminar with the theme "Strengthening regional linkages, developing East-West logistics corridors," in order to assist agencies, departments, and sectors of the two countries in identifying obstacles and challenges in order to gradually find solutions to remove and create favorable conditions for the import and export of goods throughout the region.