On the afternoon of August 25, at the Lao International Exhibition and Convention Center (Lao-Itecc), Vientiane capital, the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Laos jointly held the opening ceremony of the Vietnam-Laos Trade Fair. (VietLao Expo) in 2022.
Speaking at the opening ceremony, Lao Minister of Industry and Trade Malaithong Kommasith said that during the Laos-Vietnam Friendship Year, Vietnam-Laos 2022, the Lao Ministry of Industry and Trade and the Ministry of Industry and Trade of Vietnam have a cooperation plan. with many commemorative activities to promote trade cooperation between the two countries.

The Vietnam-Laos trade fair is one of the cross-cutting activities to promote economic, trade, investment and tourism cooperation, making practical contributions to the cooperation relationship between the state, businesses and people. people of the two countries.

The Lao Minister of Industry and Trade assessed that, after 3 years of interruption due to the impact of the Covid-19 epidemic, the organization of the Vietnam-Laos trade fair was resumed, a meaningful activity to celebrate the anniversary of the outbreak. Laos-Vietnam Friendship and Solidarity Year, Vietnam-Laos 2022.

According to Deputy Minister of Industry and Trade Do Thang Hai, Vietnam and Laos share a long border crossing the administrative boundaries of 10 provinces and cities of both countries, with 9 pairs of international border gates, 6 pairs of main border gates and 6 pairs of main border gates. 18 pairs of sub-border gates, with 27 openings and 9 border-gate economic zones, economic exchanges as well as travel, import and export of goods and labor between Vietnam and Laos are very favorable.

Emphasizing that economic cooperation has become a long-term foundation in the two countries' relations and is growing, Mr. Do Thang Hai said that in the 2016-2020 period, trade turnover between Vietnam and Laos has grown steadily and has reached the target of more than 1 billion USD/year.

After 2 years of being affected by the Covid-19 epidemic and natural disasters and floods, from the beginning of 2021 onwards, the economic and trade cooperation between the two countries has flourished and grown strongly. The balance of exports and imports is relatively balanced, the structure of goods import and export changes in a sustainable way, the list of goods exchanged between the two countries is increasingly expanded, diversified and richer.

Lao Minister of Industry and Trade Malaithong Kommasith spoke at the opening ceremony. 

Specifically, in 2021, Vietnam-Laos trade turnover will reach 1.37 billion USD, up 33.3% compared to 2020. Of these, Vietnam's exports to Laos will reach 594.7 million USD, an increase. 4% compared to 2020 and Vietnam's import turnover from Laos reached 778.2 million USD, an increase of 69.8% compared to 2020. Particularly in the first 7 months of 2022, the total import and export turnover of Vietnam - Laos estimated at $948 million, up 24% over the same period in 2021.

Emphasizing that in the current period of international integration, the relationship in the field of industry and trade is very important and needs to be promoted. promote the implementation of signed trade agreements and commitments, develop transport infrastructure, trade infrastructure... in order to create maximum advantages for import-export enterprises of the two countries.

Deputy Minister of Industry and Trade Do Thang Hai assessed that, with the presence of hundreds of enterprises of the two countries displaying and introducing diverse and rich products with beautiful designs and high quality, the success of the Trade Fair was successful. Vietnam-Laos trade in 2022 will contribute to enhancing understanding and solidarity between the business communities and people of the two countries.

"This proves the interest and confidence of the two countries' business communities in the development of Vietnam-Laos trade relations," said Mr. Do Thang Hai.

Vietnam-Laos Trade Fair (Vietlao Expo) 2022 will take place from August 25 to 29, 2022, open from 10 a.m. to 9 p.m. daily at Laos International Exhibition and Convention Center (Lao-Itecc). Vientiane capital.