The Vietnam-Laos Trade Fair 2024, taking place from July 25 to 29 in Vientiane, attracted hundreds of businesses from both countries to display and introduce their products across approximately 250 booths.

 Vietnamese Ambassador to Laos Nguyễn Bá Hùng and delegates cut the ribbon to open the exhibition.

According to a VNA correspondent in Laos, the Vietnam-Laos Trade Fair 2024 (VIETLAO EXPO 2024) is being held at the Lao International Trade and Exhibition Center (Lao Itecc) in the capital Vientiane from July 25 to 29.

This is the largest annual trade promotion event co-hosted by the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Laos, with the two countries’ Trade Promotion Departments coordinating with relevant agencies to organize it.

Attending the opening ceremony on July 25 were Vietnamese Ambassador to Laos Nguyễn Bá Hùng, representatives from the Ministry of Industry and Trade of Vietnam and Laos, and a large number of business representatives from both countries operating in Vientiane.

In his opening speech, Ambassador Nguyễn Bá Hùng stated that economic cooperation has become a long-term foundation for the relationship between the two countries and is on a trajectory of more effective development.

The Vietnamese Ambassador to Laos, Nguyễn Bá Hùng, and other delegates visited the Vietnamese booth.

Vietnam has consistently ranked among the top three largest trading partners of Laos for many years, with bilateral trade between Vietnam and Laos reaching $928 million as of the end of June 2024, an increase of 11%.

Of this amount, Vietnam exported to Laos $289 million, up 7.4%, while imports from Laos amounted to $639 million, up 12.8%. Ambassador Nguyễn Bá Hùng expressed hope that bilateral trade between the two countries in 2024 would achieve a growth rate of over 10%, in line with the targets set by the senior leaders of both countries at the 46th session of the Intergovernmental Committee.

According to Ambassador Nguyễn Bá Hùng, many investment projects by Vietnamese enterprises in Laos are operating effectively, positively contributing to socio-economic development, creating jobs, and increasing income for thousands of workers, as well as supplementing the Lao government’s budget revenues.

He shared that in the coming time, both governments aim to increase bilateral trade value to $2 billion by maximizing the potential for trade cooperation that both countries can offer.

The Vietnam-Laos Trade Fair 2024 attracted hundreds of businesses from both countries, showcasing and introducing products across approximately 250 booths, with the Vietnamese booth consisting of 120 standard booths featuring nearly 80 high-quality, reputable brands from various sectors, including pharmaceuticals and medical devices; agriculture, forestry, fisheries, and processed foods; textiles and fashion; handicrafts and interior-exterior decorations; plastics and consumer products.

The Vietnamese business delegation participating in the fair aims to promote the image of the nation and Vietnamese enterprises; boost exports; expand the distribution network of Vietnamese goods in the Lao market and northeastern Thailand; and create an environment to showcase the potential and strengths of Vietnamese businesses across various economic sectors.

The fair will serve as an effective bridge for trade organizations, manufacturers, and investors from Vietnam and Laos to meet, exchange experiences, transfer technology, invest, and form joint ventures. This event will also contribute to further promoting trade cooperation, enhancing the visibility of characteristic products and goods from both Vietnam and Laos.