VIENTIANE (Vientiane Times/Asia News Network): Visiting Vice President Pany Yathotou wrapped up her visit to Vietnam with fruitful results reached with hosting Vietnamese leaders to enhance the time-honoured relations and cooperation between the two countries.
The three-day official visit from April 25-27 was made at the invitation of her Vietnamese counterpart, Vo Thi Anh Xuan.
The visit took place as the two neighbours celebrate the 60th anniversary of diplomatic relations and the 45th anniversary of the Laos-Vietnam Treaty of Friendship and Cooperation.
Pany held talks with Vo Thi Anh Xuan and called on General Secretary of the Communist Party of Vietnam’s Central Committee, Nguyen Phu Trong, President Nguyen Xuan Phuc, and National Assembly Chairman Vuong Dinh Hue to further discuss cooperation.
The leaders of both sides were delighted to witness the new developments in the friendly relations, special solidarity and comprehensive cooperation between the two countries.
They agreed to work together to strengthen and improve the effectiveness of cooperation in defence and security, transportation, education and training, cultural and sports exchanges, and cooperation between localities, according to the Vietnam News.
Economic cooperation
The leaders affirmed their determination to raise the level of economic cooperation to be commensurate with the special relations between the two countries.
In this regard, they agreed to continue to strive to resolve the difficulties and obstacles faced by the two sides’ businesses, expand ‘hard infrastructure’ connectivity in transportation, energy, telecommunications as well as ‘soft infrastructure’ for digital economic linkages, and promote border trade.
In the first three months of 2022, two-way trade reached US$403.6 million, up 19.22 percent over the same period in 2021, the Vietnam News reported.
Vietnamese businesses have currently invested in 214 valid projects in Laos, totalling about US$5.33 billion, making Vietnam a leading foreign investor in Laos.
The governments of Laos and Vietnam have set a target to increase the value of annual two-way trade by 10-15 per cent in 2022 after the value of trade reached US$1.34 billion in 2021, an increase of 30.2 per cent on the previous year.
During the talks, Vietnam’s President Nguyen Xuan Phuc said cooperation in economic matters, trade, and investment should become a key pillar in Laos-Vietnam relations, the Hanoi Times reported.
As Laos and Vietnam strive to fulfil the cooperation projects agreed upon by the leaders of the two countries, President Phuc called for both sides to find new directions and financial sources to fund these projects, especially those relating to strategic infrastructure to bolster economic linkages.
“Laos should take advantage of Vietnam’s seaport networks and 17 free trade agreements that the country is a party to, including the RCEP of which both countries are members, to expand export markets,” President Phuc was quoted by the Hanoi Times as saying.
Mega infrastructure projects planned
Leaders of the two countries have agreed to jointly develop and operate several mega infrastructure projects including Vung Ang Port in Vietnam’s central Ha Tinh province.
Vietnam has agreed to increase the share of the port held by Laos from 20 to 60 percent to enable Laos to access a deep seaport.
A railway to link the seaport with the Lao capital Vientiane is planned to facilitate transport and cut related costs.
Recently, Lao and Vietnamese investors signed a Memorandum of Understanding on the joint development of the first section of the railway connecting the port to Thakhaek district in Khammuan province.
The two sides also plan to build an expressway linking Vientiane to Vietnam’s capital, Hanoi.
During their talks, Pany and Vo Thi Anh Xuan agreed to continue addressing the issue of naturalisation for free immigrants, according to the Vietnam News.
Despite the Covid-19 pandemic, the leaders noted that the two sides have maintained regular exchanges of delegations and high-level contacts, effectively promoted important bilateral cooperation mechanisms, and implemented cooperation agreements and plans in all important areas.
The two vice presidents agreed to continue promoting the tradition of close coordination and mutual support at multilateral forums, especially the United Nations, Asean and the Mekong sub-regional cooperation mechanisms.
On this occasion, Vice President Pany invited Vice President Vo Thị Anh Xuan to pay an official visit to Laos at an appropriate time and the Vietnamese Vice President gladly accepted the invitation.
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