Vientiane (VNA) – A multiple of substantive measures were sketched out to deepen the Vietnam – Laos relations at the 47th meeting of the two countries’ intergovernmental committee for bilateral cooperation held in Vientiane on January 9 under the co-chair of Prime Minister Pham Minh Chinh and his Lao counterpart Sonexay Siphandone.
The two sides concurred to maintain and improve the efficacy of the existing cooperation mechanisms, effectively arrange high-level visits and meetings, bolster defence - security collaboration, and build a Vietnam – Lao border of peace, stability, cooperation and comprehensive development.
Vietnam and Laos agreed to enhance bilateral economic ties while forging stronger trilateral economic connections with Cambodia. The Lao government committed to providing favourable conditions for major Vietnamese projects and considering adjustment of regulatory timeframes for hydropower and mining investments to better align with the new situation.
On the trade front, both nations will strive for a 10-15% increase in bilateral trade volume in 2025 as compared to the previous year. This strategic push aims to achieve a significant milestone of 5 billion USD in trade turnover. Besides, they will focus on addressing infrastructure connectivity challenges and position agriculture and rural development as a pillar of the bilateral economic cooperation.
Priority will be given to improving the quality of education – training cooperation and human resources development, with the Vietnamese Government continuing to providing 1,160 scholarships for Lao officials and students to study in Vietnam while sending teachers to Laos to teach Vietnamese.
In conclusion, the two PMs stressed that they will drastically direct ministries, sectors, agencies, localities and competent units to effectively concretise the signed agreements and continue to create favourable conditions for the business communities of both sides to cooperate in investment, business and production.
PM Chinh asserted that Vietnam and Laos should be determined to handle challenges, coordinate in the search and repatriation of remains of fallen Vietnamese volunteer soldiers in Laos, push ahead with cultural exchanges, and strengthen business connectivity, among others.
The two sides expressed their confidence that the meeting's success will serve as a new catalyst for deeper and more substantive cooperation, further cementing the great friendship, special solidarity, and comprehensive collaboration between Vietnam and Laos in the coming time.
Looking back on the bilateral cooperation in 2024, the two Government leaders stated that despite formidable challenges, high-level agreements were effectively carried out, helping Vietnam and Laos build their economies of independence, self-reliance, and deep, substantive and effective international integration.
Along with close defence – security collaboration, the trade – investment relations thrived, with two-way trade surging 33.9% year-on-year to exceed 2.2 billion USD. Vietnamese investors funneled 191.1 million USD into the neighbouring country, a 62.1% increase from 2023.
The two sides also reviewed and discussed measures to promote cooperation in such major projects as the Vietnam – Laos Friendship Hospital, Vung Ang Ports 1, 2, and 3, power production and trading initiatives, and Hanoi – Vientiane expressway. They also explored collaboration in tourism through the one journey - three destinations initiative connecting Vietnam, Laos, and Cambodia.
Right after the meeting, the two PMs witnessed the signing and exchange of several cooperation agreements, including that on a cooperation plan between the two Governments in 2025, a power purchase agreement, and a cooperation plan between the two education ministries./.
