The signing ceremony of the border trade agreement between Vietnam and Laos (Source: VNA)
Vientiane (VNA) – Businesses from Vietnam and Laos have been provided with the contents of a trade agreement and a border trade agreement signed by the two countries.

Speaking at a conference aiming to disseminate the two deals in the Lao central province of Savannakhet on July 5, Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu said the trade agreement was signed in March 2015 to replace an outdated pact reached in 1998.

The two countries signed the border trade agreement in June 2015, under which they promised to grant special preferences to each other, he added.

The official noted his hope that the conference will help Vietnamese and Lao enterprises access business opportunities in their respective countries and map out future operation strategies.

The Vietnamese and Lao Ministries of Industry and Trade always stay ready to accompany the two countries’ firms in order to elevate trade and investment ties on par with the fruitful bilateral political links, Tu affirmed.

The participating businesses also raised questions regarding the two trade deals, which were promptly responded to by the two ministries’ officials.

Phan Thanh Thu, Director of Vietnam’s Hoang Anh Gia Lai Group in the Lao central province of Attapeu, told a Vietnam News Agency correspondent that the two agreements have created a momentum for the two countries’ enterprises to move forward.

Kaseumsack Keosayavong, Chairman of Laos’ multi-sectoral Chaleunsap Group based in the Lao central province of Bolikhasay, said the deals, especially the free trade agreement, will help facilitate the trading of goods via the common border line between the two countries, thus benefiting their businesses.

He noted that the exemption of export-import tax imposed on farm produce in Vietnam will enable his group to increase its presence in the neighbouring country.

The conference was held by the Vietnamese and Lao Ministries of Industry and Trade in conjunction with the Vietnamese Consulate General in Savannakhet province.-VNA