Facilitate and promote Vietnam border trade

At the propaganda conference on Vietnam - Laos land border management chaired by the Central Propaganda Department and held on the morning of October 16 in Quang Nam province, Mr. Tran Quoc Toan - Deputy Director of the Import-Export Department - Ministry of Industry and Trade informed about the direction of developing Vietnam - Laos land border trade.

In the first 9 months of 2024, Vietnam - Laos import and export turnover increased by 25.5% compared to the same period in 2023.

In the first 9 months of 2024, Vietnam - Laos import-export turnover reached 1.5 billion USD

The Deputy Director of the Import-Export Department said that the entire Vietnam-Laos border has 9 international border gates, 6 main border gates, 18 secondary border gates and 27 openings, and 9 border gate economic zones have been established... Trade between the two countries benefits from the reduction of tax rates to 0% for most of the two countries' goods according to trade agreements.

According to statistics from the General Department of Customs, from 2021 to present, the import-export turnover between Vietnam and Laos has always grown positively. In particular, in 2021, the import-export turnover between Vietnam and Laos reached 1.37 billion USD; in 2022, the import-export turnover between the two countries reached 1.7 billion USD.

In 2023 alone, the total import-export turnover between Vietnam and Laos through land border gates will reach 1.56 billion USD (import-export through land border gates accounts for 96% of the total import-export value between Vietnam and Laos).

“ In September 2024, Vietnam-Laos border trade reached 1.5 billion USD, up 25.5% over the same period in 2023. Exports were 491 million USD, imports were over 1 billion USD. This is a very positive growth rate in the context of Laos's difficult economy ,” said Deputy Director of the Import-Export Department Tran Quoc Toan.

However, according to the Deputy Director of the Import-Export Department, there are still limitations that prevent Vietnam-Laos trade from developing commensurately, such as ineffective policies to attract investment in manufacturing and processing, infrastructure, transportation, and logistics at border gates. Furthermore, infrastructure development, especially the construction of connecting roads to border gates and inter-district roads in some areas, is still slow, failing to meet the potential and needs of trading, exchanging, and circulating goods in border areas.

Mr. Tran Quoc Toan - Deputy Director of Import and Export Department

In that situation, the Ministry of Industry and Trade always focuses on performing well the role assigned by the Government to preside over the implementation of tasks related to negotiating and signing international treaties; presiding over and promoting negotiations on the Agreement on Trade Promotion and Facilitation in the Development Triangle; coordinating with relevant ministries and branches to review and evaluate the overall implementation of the agreement and the Minutes of Investment Cooperation Agreement in the fields of energy, minerals and industry with Laos, on that basis proposing specific cooperation directions in the coming time, priority investment policies and support for a number of specific investment projects in these fields; presiding over and coordinating the development of a list of priority investment industries and commodities in the management field...; in addition, presiding over and coordinating with relevant ministries and branches of the two countries Vietnam - Laos to develop open mechanisms and policies to attract investment and develop trade and investment infrastructure in border areas.

In addition, promote cooperation in combating smuggling and trade fraud; strengthen trade promotion and investment promotion.

Continue to remove difficulties and facilitate Vietnam - Laos border trade

The Deputy Director of the Import-Export Department said that in order to promote the development of Vietnam-Laos border trade, in the coming time, it is necessary to effectively carry out propaganda, dissemination and implementation of international treaties and relevant legal documents, especially newly issued documents.

Besides, developing border trade between Vietnam and Laos needs to be based on market demand for key import and export products of the two countries.

Build a flexible and effective border trade and import-export management mechanism from the central to local levels; reasonably decentralize the management of border trade and import-export activities to local border provinces.

Promoting Vietnam - Laos trade promotion activities

Localities encourage and orient businesses to carry out export activities in the form of "official channels"; call on logistics service enterprises to support businesses, reduce storage and warehousing costs, reduce transportation and loading and unloading costs of goods, and at the same time thoroughly implement the goal of "giving the highest priority to disease prevention and control, ensuring safety for people and workers".

Maximize the advantages of geographical location and natural border conditions with Laos to develop trade and import-export relations in the border areas between the two countries, while at the same time linking with the development of trade in mountainous and remote areas of the border provinces.

Developing Vietnam - Laos border trade in a civilized, modern, increasingly free and convenient direction, encouraging many economic sectors to participate, moving towards smartening production facilities and equipment, operating at border gates, preserving and promoting the cultural identity of ethnic minorities in border areas and always associated with ensuring national defense and security, social order and safety in border areas.

In addition, the Ministry of Industry and Trade proposed that ministries, branches and localities coordinate to implement a number of solutions to develop border trade with Laos in the coming time, such as continuing to include contents on removing difficulties and facilitating border trade, especially measures to ensure customs clearance in exchanges at bilateral and multilateral cooperation mechanisms with Lao authorities and localities in the coming time; prioritizing financial support for organizing forums, conferences, fairs and border trade exhibitions, in order to strengthen trade connections and trading activities, and exchange of goods between traders and border residents of the two countries.

Source: https://congthuong.vn/tao-thuan-loi-thuc-day-thuong-mai-bien-gioi-viet-nam-lao-352805.html