At the talks,Minister Dien described industry and trade ties as a pillar of bilateral relationship. In the first three months of this year, two-way trade between Vietnam and Laos hit 417.8 million USD, down 1.8% annually. Vietnam mostly exported petroleum products, iron and steel, machinery and equipment to Laos while importing rubber, wood, ore and minerals from the neighbouring country.

Dien acknowledged Laos's growing production capacity, evidenced by its transition from a trade deficit to a surplus with Vietnam in recent years. He also underscored Laos's increasing importance as one of the important suppliers of raw materials for Vietnam’s manufacturing within ASEAN.

According to him, Vietnam has a significant demand for imported raw materials and electricity, including those from Laos.

Dien affirmed the Vietnamese Ministry of Industry and Trade’s readiness to help Laos secure a stable supply of petroleum products.

Both sides agreed to hold more trade promotion activities such as business forums, networking conferences, trade fairs and market information seminars; as well as develop border trade infrastructure.

They called for effectively implementing the Memorandum of Understanding on the development and connectivity of Vietnam-Laos border trade infrastructure signed in January 2024 while reviewing to amend and supplement the 2007 Hanoi Agreement and the Vietnam-Laos Border Trade Agreement to align with the current realities.

Following the talks, the two ministers signed the new Vietnam-Laos trade agreement, and witnessed the signing of a Memorandum of Understanding (MoU) between the General Department of Market Surveillance (GDMS) and the Department of Business Competition and Trade Inspection under the Lao Ministry of Industry and Commerce, and another MoU between the GP Holdings – the National Research Institute ofMechanicalEngineering and Phonesack Group on building warehouses and conveyor belts for coal transportation.

Under the MoU between the GDMS and the Department of Business Competition and Trade Inspection, both sides will update each other about respective policies and laws, offer support in market management training for officials, share the best practices in enforcing administrative penalties on business and trade violations while combating cross-border smuggling, commercial fraud and illegal transportation of goods between the two countries.

Specific cooperation plans will be determined annually or periodically, taking into account each country's legal frameworks and strategic priorities.

Bac Giang promotes lychee consumption in domestic market

BAC GIANG - On April 3, Tran Quang Tan, Director of Bac Giang Department of Industry and Trade received and worked with representatives of MM Mega Market Vietnam Group on a plan to promote lychee consumption in the domestic market.

Bac Giang makes joint efforts in removing obstacles to soon complete social housing projects

BAC GIANG- The Department of Construction of Bac Giang province held a meeting on April 3 to review implementation progress of the social housing projects.

Bac Giang enterprises at IP employ more than 15,000 labourers in Q1

BAC GIANG - In the first quarter of this year, the enterprises, especially foreign direct investment (FDI) one at the industrial parks (IP) in Bac Giang province maintained good growth, reported the Provincial Industrial Park Management Board.

Bac Giang ranks 10 in provincial Public Administration Performance Index in Vietnam

BAC GIANG- According to the 2023 Provincial Public Administration Performance Index (PAPI) report at a conference on April 2, Bac Giang was ranked 10th out of 63 provinces and cities nationwide with 44.3204 points.

Bac Giang welcomes nearly 1.5 million tourist arrivals

BAC GIANG - According to the Department of Culture, Sports and Tourism, in the first quarter, the northern province of Bac Giang welcomed nearly 1.5 million tourist arrivals, up 20% year on year. 

Chairman of Bac Giang provincial People's Committee Le Anh Duong receives Korean Business Association

BAC GIANG - On April 2, Chairman of the Bac Giang Provincial People's Committee (PPC) Le Anh Duong received the working delegation from Korean Business Association (KBA) in Vietnam.

Source: VNA