Vietnam, Laos continue to foster multifaceted cooperation

Deputy Prime Minister Trinh Dinh Dung speaks at the talks (Source: VNA)

During their talks in Vientiane on June 24 as part of activities of the Vietnam leader’s working visit to Laos on June 24 -25, the two sides reached agreements to strengthen multifaceted cooperation between the two countries, especially in security-defence, and trade.

“Vietnamese people and leaders always wish that Laos would develop stably and prosperously with higher position in the region and international arena,” Deputy PM Dung said.

The two sides expressed their joy at the fruitful development of the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos, while agreeing to well implement high-level agreements on bilateral cooperation reached at the 41st meeting of the Vietnam-Laos Inter-Governmental Committee.

They agreed to maintain the exchange of visits and focus on sharing information, experience, and preparations for the Party congress in each country in 2021.

Regarding security-defence cooperation, the two sides will continue to implement the agreement between the two governments on dealing with free migration and undocumented marriage along the shared border, and accelerate the signing of cooperative agreements on security and justice.

They discussed measures to expand economic, trade and investment cooperation, focusing on ways to remove difficulties facing Vietnamese firms operating in Laos.

Statistics show that bilateral two-way trade in the first five months of 2019 hit nearly 493 million USD, up 13.4 percent year-on-year.

Vietnam remains the third largest investor in Laos with 410 projects worth 4.22 billion USD and Vietnamese companies have significantly contributed to socio-economic development of the neighbouring country.

Deputy PM Dung suggested the Lao side create more favourable conditions for Vietnamese enterprises to seek investment opportunities in Laos, especially investing in projects in border areas, and soon organise the 2nd business dialogue conference between the Lao PM and Vietnamese firms, which was delayed from December last year.

For his part, Lao Deputy PM Sonexay Siphandone stressed the need for the two sides to expand and persify trade promotion activities, and promote the building and signing of a memorandum of understanding or an agreement on developing and connecting border trade infrastructure in 2019, while reviewing and making adjustments to the Vietnam - Laos Trade Agreement and the Vietnam-Laos Border Trade Agreement signed in 2015.

He appreciated the Vietnamese Government's care about the construction of the new National Assembly House for Laos to ensure it meets the planned schedule.

The Lao Government always attaches importance to and facilitate Vietnamese firms’ projects in Laos, especially key projects on hydroelectricity, mining and infrastructure, he said.

The two sides agreed to enhance cooperation on education and human resources development, focusing on building strategies in the field for the 2020-2030 period.

They discussed cooperation at international forums, and pledged to strengthen ties in sub-region cooperation mechanisms such as the Greater Mekong Sub-region (GMS), the Cambodia-Laos-Vietnam (CLV), the Cambodia-Laos-Myanmar-Vietnam (CLMV), and the Ayeyarwady-Chao Phraya-Mekong (ACMECS).

Deputy PM Dung took the occasion to thank Laos for having active support for Vietnam’s non-permanent membership on the UN Security Council for 2020-2021 and asked for the country’s active coordination when Vietnam takes the ASEAN Chair in 2020.

After their talks, the Vietnamese and Lao leader witnessed the signing of a power purchase agreement between the Vietnam Electricity (EVN) and Phongsubthavy Group Co., Ltd of Laos.

Later on the day, Deputy PM Dung had a meeting with Lao National Assembly Vice Chairman Somphanh Phengkhammy on the project on the building of the new National Assembly House of Laos, which is a gift from the Party, State and people of Vietnam.

Visiting the construction site, Deputy PM Dung urged relevant agencies of the two countries to make greater effort to complete the work on schedule.