This information was revealed by Deputy head of the Asia-Pacific Market Department under the Ministry of Industry and Trade Le An Hai. Vietnam and Laos signed a trade treaty in March 2015 and a border trade agreement in June 2015. These agreements offer special tariff preferences for the two nations’ businesses which not applied to any other countries. According to Mr. Le An Hai, the two trade deals have paved the way for new commodities to enter their respective markets. The Vietnam - Laos bilateral trade deal in March 2015 replaced the old one in 1998, he added.
He also said that the establishment of the ASEAN Economic Community at the end of 2015 will boosted enterprises’ business if enterprises take advantage of the agreements.
Laos Ambassador to Vietnam Thongsavanh Phomvihane said the Vietnamese and Lao Ministries of Industry and Trade are willing to help businesses promote trade and investment.
Vietnam and Laos share a border of more than 2,300 km that runs through ten Vietnamese provinces, including Nghe An province whose six districts border three provinces of Laos. The two countries have delimited their border by 834 markers and 168 stakes. Two-way trade recorded a constant increase between 2010 - 2014 with an annual growth of 25.8 percent.
The bilateral border trade agreement, in particular, will make it easier for cross-border goods exchanges, Mr. Thongsavanh Phomvihane said.
