The central province of Phu Yen and the Lao province of Savannakhet on May 1 signed a memorandum of understanding for future cooperation.

The document was signed during the visit to Phu Yen by a delegation from Savannakhet, headed by provincial Party Committee Secretary and Mayor Suphan Keomisayon.

Under the document, every two years, high ranking delegations and youth unions of the two provinces will meet to exchange views of common concern and map out a cooperative plan regarding education and training, trade, agroforestry and fishery production, service and investment.

Twice a year, the two sides will exchange information on investment promotion and attraction, preferential treatment for enterprises, and trade and tourism development.

During the meeting, the two sides informed each other about socio-economic development, national defence and security situations and Party-building tasks in their respective provinces.

They also shared experience in investment attraction, measures to manage industrial parks and economic zones and confirmed the potential benefits of cooperation, especially in agriculture, industry, mining and tourism./.