The commitment was made at the 13th Vietnam – Laos Border Trade Development Cooperation Conference, jointly held by the Vietnamese Ministry of Industry and Trade and Laos Ministy of Industry and Commerce in Quang Ninh Province.
Vietnamese Minister of Industry and Trade Nguyen Hong Dien said that economic and trade cooperation between the two countries, particularly border trade, have seen significant growth despites increasing global economic uncertainties and geopolitical instability.
He emphasised huge potential for further trade and investment cooperation between the two countries, adding that this conference marks an important stop towards further tapping the potential.
He called for review of existing agreements to identify obstacles in bilateral trade and investment, through which practical solutions would be raised to facilitate trade, improve border infrastructure and expand logistics capacity.
He also urged policies to promote investment in production and processing for exports to be raised, especially in border areas, stressing that the two countries are aiming for a new phase of cooperation, more efficient, more sustainable in line with digital and green development.
Lao Minister of Industry and Commerce Malaythong Kommasith at the conference said Vietnam - Laos border trade cooperation is not only economically important but also carries profound political, cultural, and social significance.
For Laos, border trade with Vietnam offers opportunities to expand markets and access diverse supplies, while for Việt Nam, it opens the door for deeper market penetration into Laos and beyond, he said.
The annual conference is a key mechanism to implement the Vietnam – Laos Cooperation Strategy for 2021–30, aiming to advance bilateral trade and investment, promote the development of border economic zones, and improve livelihoods for residents in border areas.
