Laos, VN cooperate to develop border trade

11th Laos - VN border trade development cooperation conference open, Dong Hoi city, central Quang Binh province, September 27, 2018

The participants reviewed outcomes and shortcomings in border trade activities while discussing measures to ease difficulties such as import-export licenses, administrative procedure, and transport and trade infrastructure in border gate areas.

Deputy Minister of Industry and Trade of Laos Bounmy Manivong said the import-export departments of Viet Nam and Laos have worked closely to organise fact-finding trips at some border gates in order boost, encourage and facilitate trade development.

He suggested the two coutries discuss and reach consensus on policies and regulations to facilitate the development of border trade, while paying attention to developing trade infrastructure, border markets, and working together to address related issues.

Laos  and Viet Nam need to coordinate to expand the scale of border goods exhibition, organise meetings to share experience, while creating conditions and opportunities for meeting, exchange and cooperation between the two countries’ businesses, he added.

The event aims to discuss ways to boost cross-border trade between Viet Nam and Laos, towards stability, sustainability and effectiveness and in line with the two countries’ special neighbourliness and the current regional and global situation.

Since the previous conference, the two countries have seen new steps of development in their trade relations, and cross-border trade in particular.

In 2017, trade turnover between the two countries reached nearly US$936 million, up 13.6% from the previous year. In the first eight months of this year, bilateral trade rose 12.9% to nearly US$656 million.

In recent years, Viet Nam and Laos have signed numerous trade agreements and memorandums of understanding in investment, transport, defence-security, agriculture, creating legal basis for promoting their economic and trade ties.

Within the framework of the conference, a display area for the products of the provinces along the Viet Nam - Laos border was opened in Dong Hoi on September 26.

                                                                                                            By Vien Nhu