Vietnam and Laos are making concerted efforts to implement strategies that will maintain steady growth in bilateral trade. According to the "Vietnam-Laos Joint Declaration," both sides are committed to increasing their bilateral trade volume by an average of 10-15% annually. This will be achieved by enhancing trade promotion activities, developing stronger brand recognition, and establishing distribution channels for Vietnamese and Lao products in each country, thereby ensuring sustainable market access for various goods. Furthermore, the two countries aim to promote the use of their local currencies in trade and investment transactions. Vietnam will continue to facilitate Laos’ import and export activities through its seaports.

The declaration was made during an official state visit by the General Secretary of the Lao People's Revolutionary Party and President of the Lao People's Democratic Republic, Thongloun Sisoulith, accompanied by his spouse and a high-level delegation. This visit took place from September 10 to September 13, 2024, at the invitation of Vietnamese General Secretary of the Communist Party and President To Lam.

In an atmosphere of deep friendship and special solidarity, the two sides shared updates on their respective countries’ situations and discussed strategies to further develop the comprehensive Vietnam-Laos partnership. Both nations reaffirmed their commitment to advancing political relations as the core driver of their overall cooperation. They agreed to enhance collaboration on key policies related to national security, development, and economic stability, as well as to strengthen their political ties through regular high-level exchanges.

Economically, both sides pledged to create breakthroughs in sectors such as education, culture, and science, which will match the strength of their political relationship. They also agreed to continue the effective implementation of agreements between the two governments, ministries, localities, and businesses. Future agreements will be reviewed and amended where necessary, including the Vietnam-Laos Bilateral Cooperation Agreement for 2026-2030 and the Cooperation Strategy in the Transport Sector for 2026-2030. These updates will provide a strong legal framework for furthering economic collaboration.

Both nations committed to strengthening economic connectivity between Vietnam and Laos, as well as the broader region that includes Cambodia. This will involve enhancing institutional, financial, and transport infrastructure connectivity, as well as partnerships in energy, telecommunications, and tourism. International partners will be invited to support key connectivity projects between Vietnam and Laos, further deepening their strategic ties.

In the field of investment, the two countries agreed to prioritize high-quality, efficient projects that can be completed on time and with the desired impact. Special focus will be placed on clean energy, digital transformation, and high-tech agriculture. They also emphasized the need for macroeconomic management and policies that encourage businesses from both countries to invest in sectors with the highest potential, such as energy, agriculture, and tourism. Both sides also discussed advancing the development of cross-border economic zones along the East-West Economic Corridor.

In terms of trade, both nations will work toward maintaining an average annual growth rate of 10-15% by facilitating trade promotion activities and establishing distribution networks for Vietnamese and Lao products in each other’s markets. They also pledged to encourage the use of local currencies in trade and investment transactions. Vietnam will continue to create favorable conditions for Laos to import and export goods through Vietnamese seaports.

Education and human resource development were also identified as key areas of cooperation. Both sides will continue implementing the cooperation protocol on education and training for 2022-2027. They agreed to focus on high-quality training programs for Lao officials and civil servants, especially in the management sector. Cooperation in vocational training will also be prioritized, ensuring that skilled labor can meet the needs of both countries.

The two countries affirmed their commitment to cooperation in fields such as legal affairs, culture, sports, tourism, healthcare, science, and technology. They also agreed to accelerate the implementation of existing projects to ensure they are completed on schedule.

On the international stage, Vietnam and Laos will continue to support each other in forums such as ASEAN, the United Nations, the Mekong Subregion Cooperation Mechanism, and the World Trade Organization. They will work together to promote peace, stability, and development both in the region and globally.

Both sides also agreed to work closely with Cambodia to strengthen their trilateral cooperation framework, particularly in the Cambodia-Laos-Vietnam Development Triangle. This partnership will involve joint initiatives in defense, public security, foreign affairs, and infrastructure, further solidifying the bonds between the three nations. Vietnam also pledged its full support for Laos as it assumes the ASEAN and AIPA chairmanship in 2024.

The two countries reaffirmed their commitment to ensuring the sustainable management of the Mekong River’s water resources and other natural resources. They agreed to collaborate on monitoring transboundary impacts and improving early warning systems for floods and droughts, helping to secure long-term development in the Mekong region.

The visit of Lao President Thongloun Sisoulith to Vietnam, along with the reciprocal visit by President To Lam to Laos, marks a new chapter in the long-standing Vietnam-Laos relationship. These high-level exchanges are seen as key milestones in the development of the special relationship between the two nations, further contributing to peace, stability, and prosperity in the region.