Việt Nam,ltd hom nay Laos to deepen bilateral ties through substantive measures

January 09, 2025 - 17:44 The two Prime Ministers stressed that they would direct relevant departments to effectively concretise the signed agreements and continue to create favourable conditions for the business communities of both sides.

Prime Minister Phạm Minh Chính and his Lao counterpart Sonexay Siphandone co-chair the 47th meeting of the two countries’ intergovernmental committee for bilateral cooperation on Thursday. — VNA/VNS Photos Dương Giang

VIENTIANE — Multiple substantive measures were sketched out to deepen the Việt Nam–Laos relations at the 47th meeting of the two countries’ Intergovernmental Committee for bilateral cooperation, held in Vientiane on Thursday, co-chaired by Prime Minister Phạm Minh Chính and his Lao counterpart Sonexay Siphandone.

The two sides agreed to maintain and improve the efficacy of the existing cooperation mechanisms, effectively arrange high-level visits and meetings, bolster defence-security collaboration, and build a Việt Nam–Laos border of peace, stability, cooperation and comprehensive development.

Việt Nam and Laos agreed to enhance bilateral economic ties, while forging stronger trilateral economic connections with Cambodia.

The Lao Government asserted its commitment to providing favourable conditions for major Vietnamese projects and considering adjustments of regulatory timeframes for hydropower and mining investments.

On the trade front, both nations will strive for a 10-15 per cent increase in bilateral trade volume in 2025 as compared to the previous year. This strategic push aims to achieve a significant milestone of US$5 billion in trade turnover.

They will also focus on addressing infrastructure connectivity challenges and position agriculture and rural development as a pillar of their bilateral economic cooperation.

Priority will be given to improving the quality of education-training cooperation and human resources development, with the Vietnamese Government continuing to provide 1,160 scholarships for Lao officials and students to study in Việt Nam, while sending teachers to Laos to teach the Vietnamese language.

The two PMs stressed that they would direct ministries, sectors, agencies, local areas and relevant units to effectively firm up the signed agreements and continue to create favourable conditions for the business communities of both sides to cooperate in investment, business and production.

PM Chính asserted that Việt Nam and Laos should be determined to handle challenges, coordinate the search and repatriation of remains of fallen Vietnamese volunteer soldiers in Laos, push ahead with cultural exchanges and strengthen business connectivity, among other collaborative activities.

The two sides expressed their confidence that the meeting’s success will serve as a new catalyst for deeper and more substantive cooperation, further cementing the great friendship, special solidarity and comprehensive collaboration between Việt Nam and Laos moving forward.

Looking back on the bilateral cooperation in 2024, the two Government leaders stated that despite formidable challenges, high-level agreements were effectively carried out, helping Việt Nam and Laos build their economies of independence and self-reliance, as well as profound, substantive and effective international integration.

Along with close defence-security collaboration, their trade-investment relations thrived with two-way trade surging 33.9 per cent year-on-year to exceed $2.2 billion. Vietnamese investors funnelled $191.1 million into the neighbouring country, a 62.1 per cent increase from 2023.

The two sides also reviewed and discussed measures to promote cooperation in such major projects as the Việt Nam–Laos Friendship Hospital, Vũng Áng Ports 1, 2, and 3, power production and trading initiatives, and the Hà Nội–Vientiane Expressway. They also explored collaboration in tourism through the 'one journey–three destinations' initiative connecting Việt Nam, Laos and Cambodia.

The Vietnamese and Lao Prime Ministers witness the signing of bilateral cooperation agreements.

Following the meeting, the two PMs witnessed the signing and exchange of several cooperation agreements, including plans between the two governments in 2025, between the two education ministries and a power purchase agreement. — VNA/VNS