The Vietnamese Government has ratified a trade agreement with Laos, inked on March 3 this year. 

The agreement was signed between the Vietnamese Ministry of Industry and Trade (MOIT) and Lao Ministry of Industry and Commerce (MOIC) in Laos, replacing the 1998 Trade Agreement between the two nations. 

The new agreement, comprising six chapters and 16 articles, will come in effect once both sides exchange diplomatic notes expressing their consent and confirming the completion of all necessary procedures. 

Under the agreement, Vietnam and Laos will eliminate tariffs imposed on 95% of the commodities originating from each country. The two sides also agreed on Vietnam’s new preferential tax rates for several special goods from Laos. 

The bilateral trade agreement is expected to open up more opportunities for trade cooperation and strengthen the traditional ties between Vietnam and Laos.

Ho Chi Minh City, Vientiane agree to boost ties

Ho Chi Minh City and the capital city of Laos, Vientiane, have signed an agreement to further enhance their cooperation.

The two localities reached the arrangement during talks in Vientiane on April 7 between Vientiane Mayor Sinlavong Khouphaythoune and the HCM City Party Committee Secretary Le Thanh Hai during the latter’s working visit to Laos from April 6-9.

According to the agreement, the Vietnamese locality will provide technical assistance to Vientiane’s cow breeding project for 5 years, support the Lao capital city in budget and financial management and train its finance personnel.

The two sides will forge links in tourism and culture while promoting cooperation and experience exchange among their departments and sectors.

During the meeting, the two officials informed each other of the current socio-economic context in their respective localities.

Khouphaythoune thanked the Vietnamese Party and Government and HCM City for their recent support to Laos and Vientiane, affirming that these contributed to strong development in the Lao capital city.

He expressed his wish that HCM City would continue assisting Vientiane.

The HCM City official, for his part, asserted that the southern Vietnamese hub makes every effort to effectively implement cooperation agreements signed between the two localities, deepening the time-honoured friendship and special solidarity between Vietnam and Laos.