VN, Laos target $1 bil. two-way trade turnover next year

VGP – Việt Nam and Laos have eyed the two-way trade volume of US $1 billion in 2010 which will double in 2015. The targets were set at a recent forum on raising competitiveness of Vietnamese enterprises in Laos.

July 22, 2009 11:06 AM GMT+7

Illustration photo

Vietnamese Deputy Minister of Industry and Trade Nguyễn Thành Biên confirmed that Việt Nam will offer tax incentives to local enterprises which are doing investment in Laos and intensify trade promotion activities there.

Under their bilateral agreements on preferential tariff, Việt Nam and Laos have lowered and even removed import taxes on many kinds of products.

Their two-way trade turnover was nearly US $422.9 million in 2008, up 35.4% against 2007.

By the end of 2008, Việt Nam had 157 investment projects with the total registered capital of US $811.6 million in Laos, according to the Việt Nam-Laos-Cambodia Association for Economic Cooperation and Development.

By Ngọc Vân