Laos-Vietnam trade value increases by 36.5 per cent

The meeting discussed the sale of electricity as well as trade and investment between the two countries. - VNA/VNS

VIENTIANE (Vientiane Times/ANN): Despite the Covid-19 pandemic, the value of trade between Laos and Vietnam reached US$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 US$329 million, up 19 per cent compared to the same period in 2020.

The trade figures were reported during a meeting in Vientiane on Monday between Deputy Prime Minister and Minister of Planning and Investment, Dr Sonexay Siphandone, and Deputy Prime Minister of Vietnam Le Van Thanh.

Le Van Thanh was in Laos as he accompanied President Nguyen Xuan Phuc on his official goodwill visit to Laos from Aug 9-10.

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 US$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 Huaphan province. - Vientiane Times/Asia News Network