Making news

PM suggests bringing Vietnam-Laos economic cooperation on par with political ties

PM suggests bringing Vietnam-Laos economic cooperation on par with political ties


Prime Minister Pham Minh Chinh suggested Vietnam and Laos further coordinate to seek solutions to bring economic cooperation on par with their special political ties, while receiving Lao Vice President Bounthong Chitmany in Hanoi on July 18.

To deepen and advance cooperation, the two countries should maintain all-level delegation exchanges and effectively implement the agreement reached at the 44th meeting of the Vietnam-Laos inter-governmental committee, he said.

At the same time, they should cooperate to build their economies of independence, self-reliance, and intensive and extensive international integration, the PM continued, calling for efforts to quickly remove obstacles to businesses, create a stable and transparent legal corridor and a favourable business environment to raise investor confidence.

The two sides can expand collaboration in other important spheres like national defence and security, border, education-training, science-technology, culture, sports, tourism, cooperation between localities and people-to-people exchange, he said.

The leader also highlighted Vietnam-Laos close cooperation and mutual support at international and regional forums, saying the two countries need to enhance their support to maintain their independence and self-reliance, while significantly contributing to maintaining the Association of Southeast Asian Nations (ASEAN)’s solidarity and centrality.

Both host and guest rejoiced at positive developments of the bilateral relationship in all fields, and shared the view that the regular meetings by high-ranking leaders have helped to foster the relationship and handle obstacles to the implementation of cooperation tasks.

They said two-way trade in the first half of this year reached 824 million USD, up 20.6% year-on-year. Vietnam’s investment in the neighbouring country was valued at 64.5 million USD in the first five months, raising its total investment capital to around 2.6 billion USD.

The two sides agreed to urge their agencies and localities to put into place reached agreements, and coordinate in accelerating the implementation of major cooperation projects to celebrate the Vietnam-Laos Solidarity and Friendship Year 2022.

Bounthong Chitmany, who is also permanent member of the Secretariat of the Lao People's Revolutionary Party, stressed that the celebration of the 60th anniversary of the bilateral diplomatic ties and 45 years of the signing of the Vietnam-Laos Treaty of Amity and Cooperation have helped the international community understand more about the “unique” special relationship between the two nations.

On this occasion, PM Chinh asked the Lao Vice President to convey his wishes and regards to PM Phankham Viphavanh and other Party and State leaders of Laos./.