Hanoi (VNA) – The Prime Minister has signed a decision to issue a plan that will realise a new trade agreement between Vietnam and Laos.

The plan asks for the establishment of a working group in charge of monitoring the agreement, the issuance of circulars guiding the special preferential tariff on goods from Laos, trade facilitation, smuggling combat and integration support, among others.

On March 3, 2015, Minister of Industry and Trade Vu Huy Hoang and Lao Minister of Industry and Commerce Khemmani Pholsena signed a Vietnam – Laos bilateral trade agreement to update and replace the existing one signed in 1998.

With six chapters and 16 articles, the deal commits to removing tariffs on 95 percent of Lao exports.

It will come into force once the two countries conclude the hand-over of diplomatic notes affirming the completion of necessary internal procedures.-VNA