Under the Ministers of the Ministry of Industry and Trade of the two countries,  Vietnam and Laos held the 12th Vietnam-Laos border trade development cooperation conference in the capital of Laos to discuss the promotion of border trade and  promote economic cooperation and investment between the two countries

Representatives of the Departments of Industry and Trade, officials from the provinces that share a border with the two nations, representatives of pertinent ministries and sectors, as well as numerous business representatives from the two countries, attended the Conference.

According to Minister Nguyen Hong Dien, since the 2018 conference, the two countries have achieved certain successes, the trade cooperation relationship in general and border trade between the two countries in particular have made new developments. reflected in the positive growth in import and export turnover between the two countries despite the difficulties and challenges caused by the COVID-19 pandemic.

Specifically, last year, two-way trade turnover will reach 1.37 billion USD,  increase a third compared to 2020, far exceeding the target set by the two countries' senior leaders for the two countries' industry and trade.

Vietnam's import turnover from Laos reached nearly 780 million USD, increase by three quarter compared to the same period last year.

This is an extremely impressive growth, not only compared to Vietnam-Laos trade in previous years but also compared to the growth of trade turnover between Vietnam and many other countries in the region.

Minister Nguyen Hong Dien emphasized that although the results were very impressive, it was still not commensurate with the potential of trade between the two countries.

According to the Minister of Industry and Trade of Vietnam, the potential for development of trade relations between the two countries is still very large and the 12th Vietnam-Laos border trade development cooperation conference is one of the important steps to promote cooperation. contribute to exploiting that potential, with the goal of trade turnover between the two countries not only growing at the rate of 10-15% per year but also for the trade between the two countries to develop stably and sustainably; exploit the potential and advantages of each party; contribute to hunger eradication, poverty reduction and improvement of people's living standards; build a border of peace and friendship and contribute more and more to the socio-economic development of both Laos and Vietnam.

At the conference, the two sides jointly assessed the achievements and shortcomings in such areas as the implementation of the Vietnam-Laos Border Trade Agreement, the promotion of trade, investment and the management of the border gates. border, anti-smuggling and trade fraud, infrastructure at the border gate...

The conference pointed out the weaknesses, limitations and reasons why Laos-Vietnam trade has not developed commensurate with the potentials of the two countries, such as policies to attract investment in production, processing, infrastructure, etc. infrastructure, traffic and logistics at the border gate area are not efficient; The development of infrastructure, especially the construction of roads connecting to the border gate, inter-district roads in some areas is still slow and not commensurate with each other. activities of buying, selling, exchanging and circulating goods in border areas...

The conference heard many presentations from the representatives of the provinces and companies of the two countries frankly pointing out the bottlenecks in Laos-Vietnam trade as well as recommendations and solutions to promote the development of border trade between the two countries. two countries.

The conference agreed to set seven orientations for cooperation in developing border trade between Vietnam and Laos in the coming time, in which the two sides will review, research and propose breakthrough preferential mechanisms and policies. , attractive enough to attract investment capital in infrastructure in border economic zones, in production, processing and trade activities in border areas; promote the negotiation to sign the Memorandum of Understanding on the development and connectivity of border trade infrastructure between the Government of Vietnam and the Government of Laos.

The two sides also agreed to review, study, amend and supplement signed documents such as the Vietnam-Laos Bilateral Trade Agreement and the 2007 Hanoi Agreement to suit the actual situation in the coming time. next; review and propose plans to solve difficulties and obstacles in the process of implementing the Vietnam-Laos Border Trade Agreement.

The two sides agreed to create favorable conditions for each country's goods to be circulated and consumed in each other's markets, especially agricultural products; continue to coordinate in preventing and combating smuggling, trade fraud, and illegal cross-border transportation of goods between the two countries, creating a healthy environment for border trade to develop...

At the end of the Conference, the Ministry of Industry and Trade of Vietnam Nguyen Hong Dien and the Ministry of Industry and Trade of Laos Khampheng Xaysompheng signed a Memorandum of Understanding on cooperation in developing border trade between the two countries as a basis for the two sides to develop and implement tasks in the field. next time./.