Prime Minister Pham Minh Chinh hopes for stronger trade, investment ties with Laos
|Prime Minister Pham Minh Chinh hopes for stronger trade, investment ties with Laos: Prime Minister Pham Minh Chinh received Lao Minister of Industry and Commerce Malaythong Kommasith in Hanoi on December 23, 2022. (Photo: VNA)|
The visiting officials are in Vietnam to attend an annual cooperation and development conference between the two countries’ industry and trade, energy, and mining sectors.
Hailing Vietnam-Laos relations, Prime Minister Chinh highlighted that despite complicated regional and international situations, bilateral ties have been thriving, especially with trade revenue reaching 1.63 billion USD in 2022.
He asked the Ministry of Industry and Commerce and the Ministry of Energy and Mines of Laos to cooperate more effectively with the Vietnamese Ministry of Industry and Trade to continue devising and implementing concrete and practical measures to boost trade and investment partnerships on par with political ties and capitalising on the two sides’ advantages.
The host asked both sides to increase experience sharing, coordinate to deal with difficulties in a timely manner, and assist each other’s countries to build independent and self-reliant economies that actively and proactively integrate into the world in the spirit of equitable cooperation.
For his part, Minister Kommasith said trade between Vietnam and Laos has been growing but is yet to match its potential.
The Minister affirmed that his Ministry will strengthen cooperation with the Vietnamese side to tighten trade links, particularly cross-border trade, matching the two countries’ strengths and demands, including in the energy and mining sectors.