Deputy Minister of Industry and Trade Tran Quoc Khanh (R) and his Lao counterpart Bunthong Duonsavan (Photo: VNA) At the meeting, the Lao official briefed on Laos’ economic difficulties in the first months of 2023, saying that his country’s inflation rate in February 2023 stood at 41.3% , up 1 % from the figure reported in the previous month.
According to the guest, the Vietnamese Government has promptly applied effective policies and solutions to control inflation and stabilise the domestic petroleum market.
Participants at the reception (Photo: VNA) Deputy Minister Khanh said Vietnam will do utmost to fully support Laos in overcoming its difficult economic situation.
He shared Vietnam’s experience in attracting investment in developing industrial parks, and in operating and managing the petroleum market.
The officials affirmed that the two sides will closely coordinate in implementing measures to promote bilateral trade and industrial cooperation, contributing to realising the set goal of increasing two-way trade by at least 10% in 2023.
According to the data of the General Department of Vietnam Customs, two-way trade between Vietnam and Laos reached 244.2 million USD in the first two months of 2023, up 0.4% year-on-year. The three-month figure is estimated at 408.2 million USD, up 1.1% over the same period in 2022./.
VNA
