Vietnam and Laos will continue to seek ways to step up theimplementation of the trade development scheme for the 2008-2015 periodpreviously signed by the two governments, to fulfil the set target ofearning two-way trade of 1 billion USD in 2012.
This is the major subject of the talks between Minister of Industry andTrade Vu Huy Hoang and his Lao counterpart Nam Viyaketh during thelatter’s visit to Vietnam from May 3-6.
The twoministers agreed to launch more joint programmes of trade promotion toadvertise each country’s products, while creating more chances forbusinesses from both countries to meet, exchange and conduct tradedeals, particularly during trade promotions in the cooperative frameworkof the East-West corridor.
Apart from holdingVietnam-Laos trade fairs in Vientiane , the two sides agreed to expandthe fairs to various localities in Laos .
Showrooms tointroduce each other’s products will also be opened in both countries,while a network of markets along the border will be set up by 2020.
The two ministers pledged to closely coordinate with other relatedlocal agencies to develop several economic zones, including the Lao BaoBorder Gate (Quang Tri province)-Densavan (Savannakhet province), TayTrang (Dien Bien)-Phang Hoc (Phongsaly) and Bo Y (Kon Tum)-Phu Cua(Attapeu).
Last year’s two-way trade between Vietnam andLaos hit 734 million USD, up 50 percent over 2010. In the firstquarter of 2012, revenue reached 232 million USD, a year-on-yearincrease of 57 percent.-VNA