Vietnam-Laos Trade Targets Become Feasible

Vietnam and Laos can fulfill the target of obtaining two-way trade of US$1 billion by 2010, said Lao Deputy Minister of Industry and Trade Siaosavath Savengsuksa on February 8.

 

Siaosavath Savengsuksa told Vietnam News Agency correspondents in Vientiane that the two countries should boost imports and exports, as well as investment in rubber, coffee and hydro-power projects.

Bilateral trade between the neighbors was US$240 million in 2006, marking a year-on-year increase of 30 per cent.

Vietnam and Laos signed, in the end of 2006, a supplementary agreement on import-export taxes and vowed to promote trade of certain goods at border markets, speed up administrative procedures at international border-gates, and finance construction projects such as the construction of a trade center in Vientiane. (Vietnam & World Economy)