The value of trade between Laos and Vietnam reached $671 million in the first six months of this year, an increase of 36.5 per cent compared to last year.

The value of goods imported by Laos from Vietnam amounted to $329 million, up 19 per cent compared to the same period in 2020.

The trade figures were reported during a meeting in Vientiane on August 9 between Deputy Prime Minister and Minister of Planning and Investment Dr Sonexay Siphandone and Vietnamese President Nguyen Xuan Phuc.

The meeting discussed trade, investment and the sale of electricity between the two countries.

Vietnamese businesses currently have investments in 414 projects in Laos worth about $4.1 billion, with most being in agriculture, electricity and mining. Vietnam is the third largest investor in Laos after China and Thailand.

During talks, the two sides pushed for agreements in the trade in electricity to be fulfilled as planned.

They also continued to urge progress in other projects agreed to, such as construction of the Vientiane-Hanoi Expressway, Laos-Vietnam Railway, and the Nong Khang Airport in northeastern Laos’ Houaphan province.

Phuc, his wife and a high-level delegation arrived at Wattay International Airport on August 9, where they were welcomed by Dr Sonexay, his wife, and senior officials.

The two-day visit by the Vietnamese president on August 9-10 aimed to enhance the relations, solidarity and cooperation between Laos and Vietnam.

Also on August 9, Phuc and his Lao counterpart Thongloun Sisoulith witnessed the signing of 14 cooperation agreements. Seven documents were signed by the two countries’ state organisations while the rest related to the private sector.

Phuc also met Lao Prime Minister Phankham Viphavanh to discuss their cooperative relations.

VIENTIANE TIMES/ASIA NEWS NETWORK