Vietnam-Laos strengthen trade promotion

According to a VNA reporter in Laos, from July 25-29, the Vietnam-Laos Trade Fair 2024 (VIETLAO EXPO 2024) will take place at the Lao International Exhibition and Convention Center (Lao Itecc) in the capital Vientiane.

This is the largest annual trade promotion event co-hosted by the Ministry of Industry and Trade of Vietnam and the Ministry of Industry and Trade of Laos, and assigned to the Trade Promotion Departments of the two countries to coordinate with relevant agencies.

Vietnamese Ambassador to Laos Nguyen Ba Hung and delegates cut the ribbon to open the exhibition. (Photo: Xuan Tu/VNA)

Attending the opening ceremony on July 25 were Vietnamese Ambassador to Laos Nguyen Ba Hung; representatives of the Ministry of Industry and Trade of Vietnam and Laos and many representatives of businesses of the two countries operating in the capital Vientiane.

Speaking at the opening ceremony, Ambassador Nguyen Ba Hung said economic cooperation has become a long-term foundation in the relationship between the two countries and is on the path to more effective development.

Of this, Vietnam's exports to Laos reached 289 million USD, up 7.4%, and imports from Laos reached 639 million USD, up 12.8%. Ambassador Nguyen Ba Hung expressed his hope that the two countries' trade turnover in 2024 will increase by over 10% according to the target set by the two countries' senior leaders at the 46th meeting of the Intergovernmental Committee.

According to Ambassador Nguyen Ba Hung, many investment projects of Vietnamese enterprises in Laos operate effectively, contributing positively to socio-economic development, creating jobs and increasing income for thousands of workers, and supplementing the Lao state budget revenue.

He shared that in the coming time, the two governments wish to increase bilateral trade value to 2 billion USD by maximizing the potential for trade cooperation that the two countries can bring.

The 2024 Vietnam-Laos Trade Fair attracts hundreds of businesses from both countries to display and introduce products at a scale of about 250 booths, of which the Vietnam Pavilion has a scale of 120 standard booths with nearly 80 quality, branded and reputable businesses in industries such as pharmaceuticals and medical equipment; agriculture, forestry, fishery and processed food; garment-fashion; handicrafts and interior and exterior decoration; plastics and consumer products...

The Vietnamese business delegation participating in the fair aims to promote the image of the country and Vietnamese businesses; boost exports, expand the consumption network of Vietnamese goods in the Lao market and the northeastern region of Thailand; create an environment to introduce the potential and strengths of businesses in Vietnam's economic sectors...

The fair will become an effective bridge for trade organizations, manufacturers, and investors from Vietnam and Laos to meet, exchange experiences, transfer technology, invest, and form joint ventures. This event will also contribute to further promoting trade cooperation and promoting the brands of typical products and goods of Vietnam and Laos./.

Source: https://congthuong.vn/ngoai-giao-kinh-te-viet-nam-lao-tang-cuong-thuc-day-thuong-mai-335170.html