VN exchanges traffic rights with ASEAN neighbors

A ceremony to welcome the exchange of traffic right and the introduction of the cross-border customs transit system was held on Thursday at the two major international border crossing gates: Việt Nam’s Lao Bảo and Laos’ Densavan, and Laos’ Savannakhet and Thailand’s Mukdahan.

Goods transported between Thailand and Việt Nam along the East-West Economic Corridor, running from Việt Nam’s Đà Nẵng City to Savannakhet and then to Thailand, can now directly go to final destinations.

The exchange of traffic rights and the customs transit system will also slash transport costs, giving a boost to the regional trade.

Initially, 1,200 vehicles, or 400 for each country, are licensed to enter each other’s countries.

The first soft loan of the Asian Development Bank for the development of the East-West Economic Corridor, valued at US $57million in 1999, was mainly used to fund the construction and upgrading of roads in Việt Nam and Lào

By Ngọc Vân