Vietnam and Laos are set to deepen their economic, trade, and energy cooperation following a productive working session between Vietnam’s Minister of Industry and Trade, Nguyen Hong Dien, and Lao Ambassador to Vietnam, Khamphao Ernthavanh, in Hanoi on January 3.

In 2024, bilateral trade turnover reached over two billion US dollars for the first time, reflecting a growth of nearly 34 percent compared to the previous year. Minister Dien attributed this success to collaborative efforts from both governments, authorities, and businesses. He emphasized the importance of the new Vietnam-Laos trade agreement signed in April 2024 and urged swift implementation to maximize its benefits.

Energy cooperation remains a cornerstone of economic ties, with significant achievements in coal and electricity trading contributing to both nations' socio-economic development. Ambassador Khamphao expressed gratitude for Vietnam's supply of 36 million litres of gasoline and oil to stabilize Laos' domestic fuel market.

Both sides expressed optimism about the upcoming 47th Vietnam-Laos Intergovernmental Committee meeting in January 2025, anticipating further milestones in their partnership.